Jonathan Gilbert Maurer - Mar 31, 2023 Form 4 Insider Report for OPAL Fuels Inc. (OPAL)

Signature
/s/ John Coghlin as Attorney-in-Fact
Stock symbol
OPAL
Transactions as of
Mar 31, 2023
Transactions value $
$0
Form type
4
Date filed
4/4/2023, 04:45 PM
Previous filing
Dec 12, 2022
Next filing
Oct 5, 2023

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
transaction OPAL Stock options (right to buy) Award $0 +57K $0.00 57K Mar 31, 2023 Class A common stock 57K $6.97 Direct F1, F2, F3, F4, F5
transaction OPAL Restricted Stock Units Award $0 +108K +143.47% $0.00 183K Mar 31, 2023 Class A common stock 108K Direct F1, F6, F7, F8, F9, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Granted pursuant to the Issuer's 2022 Omnibus Equity Incentive Plan (the "Plan").
F2 The Reporting Person was granted an option to purchase shares of the Issuer's Class A common stock (the "Option") at an exercise price of $6.97 per share, which was the closing price per share of the Issuer's Class A common stock on March 31, 2023, as quoted on the Nasdaq Stock Market. The Option vests in three (3) equal installments on each of the following dates: (i) March 31, 2024, (ii) March 31, 2025, and (iii) March 31, 2026, provided, that the Reporting Person continues to provide services to the Issuer through the applicable vesting date.
F3 In the event that the Reporting Person's employment is terminated by reason of the Reporting Person's disability or termination without cause, the Options shall vest with respect to the number of shares of Class A common stock that would have vested upon the next vesting date following such termination, had the Reporting Person remained an employee.
F4 Notwithstanding the foregoing, upon the occurrence of a termination of employment by reason of the Reporting Person's (i) termination without cause; or (ii) resignation for good reason, in connection with or within the 24 months following the consummation of a Change in Control (as defined in the Plan and the relevant award agreement), any unvested portion of the Option shall accelerate and vest in full.
F5 Upon the occurrence of a termination by reason of the Reporting Person's death, any unvested portion of the Option shall accelerate and vest in full.
F6 Each restricted stock unit represents the contingent right to receive, at settlement, one share of the Issuer's Class A common stock.
F7 The restricted stock units vest in three equal installments on March 31, 2024, March 31, 2025 and March 31, 2026, provided that the Reporting Person continues to provide services to the Issuer through the applicable vesting date.
F8 In the event that the Reporting Person's employment is terminated by reason of the Reporting Persons disability or termination without cause, the restricted stock units (the RSUs) shall vest with respect to the number of RSUs that would have vested upon the next vesting date following such termination had the Reporting Person remained an employee.
F9 Notwithstanding the foregoing, upon the occurrence of a termination of employment by reason of the Reporting Persons (i) termination without cause; or (ii) resignation for good reason, in connection with or within the 24 months following the consummation of a Change in Control (as defined in the Plan and the relevant award agreement), any unvested portion of the RSUs shall accelerate and vest in full.
F10 Upon the occurrence of a termination by reason of the Reporting Persons death, any unvested portion of the RSUs shall accelerate and vest in full.