Priyen N. Patel - 06 Feb 2025 Form 3 Insider Report for Latch, Inc. (LTCH)

Role: Chief Strategy & Legal Officer
Signature: /s/ Priyen Patel
Issuer symbol: LTCH
Transactions as of: 06 Feb 2025
Net transactions value: $0
Form type: 3
Filing time: 12 Feb 2025, 17:39:15 UTC
Next filing: 18 Dec 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	LTCH	Common Stock						403,350	06 Feb 2025	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	LTCH	Stock Option							06 Feb 2025	Common Stock	190,051	$1.01	Direct	F2, F3
holding	LTCH	Stock Option							06 Feb 2025	Common Stock	137,546	$1.01	Direct	F3, F4
holding	LTCH	Performance Stock Option							06 Feb 2025	Common Stock	2,500,000	$0.4100	Direct	F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 92,355 shares of common stock issuable upon the settlement of vested restricted stock units.
F2	Represents the unexercised portion of a stock option granted on August 26, 2019.
F3	The stock option is fully vested.
F4	Represents the unexercised portion of a stock option granted on June 21, 2020.
F5	The Performance Stock Option was granted on August 11, 2024.
F6	The Performance Stock Option will conditionally vest in three equal tranches in the event the volume weighted average price of the Issuer's common stock for a period of 60 days equals or exceeds each of $4.00, $5.00 and $6.00 per share, respectively, subject to additional time-based vesting requirements. If the foregoing price thresholds are met, 25% of the shares in the tranche will vest immediately, and the remaining 75% of the shares in the tranche will vest in three equal annual installments thereafter. In addition, to the extent vested, (i) the first tranche will become exercisable in four equal installments on the second, third, fourth and fifth anniversaries of the grant date, (ii) the second tranche will become exercisable in four equal installments on the third, fourth, fifth and sixth anniversaries of the grant date, and (iii) the third tranche will become exercisable in four equal installments on the fourth, fifth, sixth and seventh anniversaries of the grant date.