George J. Schultze - Jun 24, 2022 Form 4 Insider Report for Clever Leaves Holdings Inc. (CLVR)

Role
Director
Signature
/s/ David Kastin, by power of attorney
Stock symbol
CLVR
Transactions as of
Jun 24, 2022
Transactions value $
$0
Form type
4
Date filed
6/24/2022, 04:37 PM
Previous filing
Feb 3, 2022
Next filing
Apr 12, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CLVR Common shares Award $0 +68.8K +1063.64% $0.00 75.3K Jun 24, 2022 Direct F1
holding CLVR Common shares 2.25M Jun 24, 2022 See footnote F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares are restricted share units that were issued pursuant to the Issuer's 2020 Incentive Award Plan, as the annual award to directors pursuant to the Non-Employee Director Compensation Policy. Each restricted share unit represents a contingent right to receive one common share of the Issuer. These restricted share units will vest in full on the earlier of (i) the day immediately preceding the date of the Issuer's next annual meeting of shareholders and (ii) the first anniversary of the date of grant, subject to the Reporting Person's continuous service with the Issuer through the vesting date.
F2 Includes 1,140,423 shares subject to certain vesting and forfeiture arrangements, as described in the Issuer's registration statement on Form S-4 (File No. 333-241707
F3 The securities are held directly by Schultze Special Purpose Acquisition Sponsor, LLC (the "Sponsor") and indirectly by George J. Schultze, who controls both Schultze Asset Management, LP, the manager of the Sponsor, and Schultze Master Fund, Ltd, the majority owner of the Sponsor. Mr. Schultze disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.