David Michael Miller - Jan 26, 2023 Form 4 Insider Report for Boxed, Inc. (BOXDQ)

Role
Chief Technology Officer
Signature
/s/ Claire Vogel, Attorney-in-Fact
Stock symbol
BOXDQ
Transactions as of
Jan 26, 2023
Transactions value $
-$19,611
Form type
4
Date filed
1/30/2023, 06:25 PM
Previous filing
Jan 26, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BOXDQ Common Stock Options Exercise $0 +93.8K $0.00 93.8K Jan 27, 2023 Direct F1
transaction BOXDQ Common Stock Sale -$19.6K -40.8K -43.49% $0.48* 53K Jan 27, 2023 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 BOXDQ Restricted stock units Options Exercise $0 -93.8K -31.25% $0.00 206K Jan 26, 2023 Common Stock 93.8K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit (RSU) represents the contingent right to receive one share of the Issuer's common stock.
F2 The sales reported on this Form 4 represent shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the settlement of vested RSUs. These sales are mandated by the Issuer's election under its equity incentive plan to require the satisfaction of tax withholding obligations in connection with the RSUs reported to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
F3 The price reported in Column 4 is a weighted average per share sales price. These shares were sold in multiple transactions at prices ranging from $0.48 to $0.493351, inclusive. The Reporting Person undertakes to provide to 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 above.
F4 On March 16, 2022, the Reporting Person was granted 300,000 RSUs, vesting over a four-year period, with the first 25% vesting on October 11, 2022 and the remaining vesting in even monthly increments thereafter.