Michael D. Dunn - Apr 1, 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
Apr 1, 2024
Transactions value $
-$326,714
Form type
4
Date filed
4/4/2024, 08:10 AM
Previous filing
Feb 1, 2024
Next filing
Apr 25, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SYM Class A Common Stock Sale -$91K -2K -3.05% $45.52 63.6K Apr 1, 2024 By Dunn Family Holding LLC F1, F2, F3
transaction SYM Class A Common Stock Options Exercise +5.5K +8.64% 69.1K Apr 1, 2024 By Dunn Family Holding LLC F3, F4
transaction SYM Class A Common Stock Options Exercise +7.67K +11.09% 76.8K Apr 1, 2024 By Dunn Family Holding LLC F3, F4
transaction SYM Class A Common Stock Sale -$236K -5.44K -7.09% $43.29 71.4K Apr 2, 2024 By Dunn Family Holding LLC F3, F5, 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 -5.5K -12.5% $0.00 38.5K Apr 1, 2024 Class A Common Stock 5.5K Direct F7, F8
transaction SYM Restricted Stock Units Options Exercise $0 -7.67K -25% $0.00 23K Apr 1, 2024 Class A Common Stock 7.67K Direct F7, F9
* 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 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.
F2 Reflects securities beneficially owned following the reported transaction after 65,646 securities previously owned directly by the Reporting Person were contributed to Dunn Family Holding LLC on March 11, 2024.
F3 The Reporting Person may be considered the beneficial owner of securities held by Dunn Family Holding LLC, of which the Reporting Person is the Chief Manager. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
F4 Restricted stock units convert into Class A common stock on a one-for-one basis.
F5 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.
F6 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 $42.98 to $43.61, 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.
F7 Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A common stock.
F8 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 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.
F9 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 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.

Remarks:

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