Michael D. Dunn - Aug 17, 2022 Form 4 Insider Report for Symbotic Inc. (SYM)

Role
Reporting Person's title is Vice President, Sales, Marketing & Product Strategy.
Signature
/s/ Corey Dufresne, Attorney-in-Fact
Stock symbol
SYM
Transactions as of
Aug 17, 2022
Transactions value $
-$608,538
Form type
4
Date filed
8/19/2022, 05:52 PM
Previous filing
Jun 9, 2022
Next filing
Aug 24, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SYM Class A Common Stock Options Exercise +276K 276K Aug 17, 2022 Direct F1
transaction SYM Class A Common Stock Sale -$609K -42K -15.2% $14.49 234K Aug 19, 2022 Direct F2, F3

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 SYM Restricted Stock Units Award $0 +415K $0.00 415K Aug 17, 2022 Class A Common Stock 415K Direct F4, F5
transaction SYM Restricted Stock Units Options Exercise $0 -276K -66.67% $0.00 138K Aug 17, 2022 Class A Common Stock 276K Direct F4, F6
transaction SYM Restricted Stock Units Award $0 +397K $0.00 397K Aug 17, 2022 Class A Common Stock 397K Direct F4, F7
transaction SYM Restricted Stock Units Award $0 +92K $0.00 92K Aug 17, 2022 Class A Common Stock 92K Direct F4, F8
transaction SYM Restricted Stock Units Award $0 +88K $0.00 88K Aug 17, 2022 Class A Common Stock 88K Direct F4, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into Class A common stock on a one-for-one basis.
F2 The sales reported in this Form 4 represent shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units. These sales were mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction, and do not represent discretionary trades by the Reporting Person.
F3 In accordance with SEC guidance authorizing aggregate reporting of same-day purchases and sales, the shares were sold in multiple transactions at prices ranging from $13.11 to $15.88, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price withing the range set forth in this footnote.
F4 Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A common stock.
F5 The restricted stock units vest as follows: 2/3 of the restricted stock units vest on the date of grant and the remaining 1/3 of the restricted stock units vest on January 1, 2024, subject to the Reporting Person continued service with the Issuer on the applicable vesting dates.
F6 On August 17, 2022, the Reporting Person was granted an award of 414,599 restricted stock units, 2/3 of the restricted stock units vest on the date of grant and the remaining 1/3 of the restricted stock units vest on January 1, 2024, subject to the Reporting Person continued service with the Issuer on the applicable vesting dates.
F7 The restricted stock units vest as follows: 1/2 of the restricted stock units vest on January 1, 2023, and the remaining 1/2 of the restricted stock units vest on January 1, 2024, subject to the Reporting Person continued service with the Issuer on the applicable vesting dates.
F8 The restricted stock units vest as follows: 1/3 of the restricted stock units vest on January 1, 2023, and 1/12 of the restricted stock units vest quarterly thereafter, subject to the Reporting Person continued service with the Issuer on the applicable vesting dates.
F9 The restricted stock units vest as follows: 1/4 of the restricted stock units vest on January 1, 2023, and 1/16 of the restricted stock units vest quarterly thereafter, subject to the Reporting Person continued service with the Issuer on the applicable vesting dates.

Remarks:

Reporting Person's title is Vice President, Sales, Marketing & Product Strategy.