Michael D. Dunn - Jan 2, 2024 Form 4 Insider Report for Symbotic Inc. (SYM)

Signature
/s/ Corey Dufresne, as Attorney-in-Fact for Michael D. Dunn
Stock symbol
SYM
Transactions as of
Jan 2, 2024
Transactions value $
-$6,702,318
Form type
4
Date filed
1/4/2024, 06:45 PM
Previous filing
Dec 15, 2023
Next filing
Jan 11, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SYM Class A Common Stock Options Exercise +3.83K +320.22% 5.03K Jan 2, 2024 Direct F1
transaction SYM Class A Common Stock Options Exercise +2.75K +54.65% 7.78K Jan 2, 2024 Direct F1
transaction SYM Class A Common Stock Options Exercise +99.2K +1274.66% 107K Jan 2, 2024 Direct F1
transaction SYM Class A Common Stock Options Exercise +69.1K +64.62% 176K Jan 2, 2024 Direct F1
transaction SYM Class A Common Stock Sale -$2.66M -57.3K -32.56% $46.35 119K Jan 3, 2024 Direct F2, F3
transaction SYM Class A Common Stock Sale -$734K -15.5K -13.07% $47.29 103K Jan 3, 2024 Direct F2, F4
transaction SYM Class A Common Stock Sale -$155K -3.23K -3.13% $48.06 100K Jan 3, 2024 Direct F2, F5
transaction SYM Class A Common Stock Sale -$2.64M -57.9K -57.97% $45.54 42K Jan 4, 2024 Direct F6, F7
transaction SYM Class A Common Stock Sale -$494K -10.7K -25.45% $46.20 31.3K Jan 4, 2024 Direct F6, F8
transaction SYM Class A Common Stock Sale -$23.5K -500 -1.6% $47.00 30.8K Jan 4, 2024 Direct F6

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 Options Exercise $0 -3.83K -10% $0.00 34.5K Jan 2, 2024 Class A Common Stock 3.83K Direct F9, F10
transaction SYM Restricted Stock Units Options Exercise $0 -2.75K -5.56% $0.00 46.7K Jan 2, 2024 Class A Common Stock 2.75K Direct F9, F11
transaction SYM Restricted Stock Units Options Exercise $0 -99.2K -50% $0.00 99.2K Jan 2, 2024 Class A Common Stock 99.2K Direct F9, F12
transaction SYM Restricted Stock Units Options Exercise $0 -69.1K -50% $0.00 69.1K Jan 2, 2024 Class A Common Stock 69.1K Direct F9, F13
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Restricted stock units convert into Class A common stock on a one-for-one basis.
F2 This transaction represents 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 $45.95 to $46.94, 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 within the range set forth in this footnote.
F4 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 $46.95 to $47.93, 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 within the range set forth in this footnote.
F5 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 $47.98 to $48.19, 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 within the range set forth in this footnote.
F6 This transaction was executed pursuant to a trading plan entered into by the Reporting Person on August 18, 2023, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
F7 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 $45.00 to $45.98, 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 within the range set forth in this footnote.
F8 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 $46.00 to $46.84, 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 within the range set forth in this footnote.
F9 Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A common stock.
F10 On August 17, 2022, the Reporting Person was granted 92,000 restricted stock units that vest as follows: 1/3 of the restricted stock units vested 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. The restricted stock units that vested on January 1, 2024 will be delivered in two tranches: 3,833 shares were delivered on January 2, 2024 and the shares for the remaining restricted stock units that vested on January 1, 2024 have not yet been delivered.
F11 On August 17, 2022, the Reporting Person was granted 87,970 restricted stock units that vest as follows: 1/4 of the restricted stock units vested 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. The restricted stock units that vested on January 1, 2024 will be delivered in two tranches: 2,749 shares were delivered on January 2, 2024 and the shares for the remaining restricted stock units that vested on January 1, 2024 have not yet been delivered.
F12 On August 17, 2022, the Reporting Person was granted 396,625 restricted stock units that 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. The restricted stock units that vested on January 1, 2024 will be delivered in two tranches: 99,156 shares were delivered on January 2, 2024 and the shares for the remaining restricted stock units that vested on January 1, 2024 have not yet been delivered.
F13 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. The restricted stock units that vested on January 1, 2024 will be delivered in two tranches: 69,099 shares were delivered on January 2, 2024 and the shares for the remaining restricted stock units that vested on January 1, 2024 have not yet been delivered.

Remarks:

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