Christopher Stephen Phillips - Jul 31, 2023 Form 4 Insider Report for System1, Inc. (SST)

Role: Director, 10%+ Owner
Signature: /s/ Daniel Weinrot, as Attorney-in-Fact for Christopher Stephen Phillips
Stock symbol: SST
Transactions as of: Jul 31, 2023
Transactions value $: $457,600
Form type: 4
Date filed: 8/3/2023, 09:07 PM
Previous filing: Sep 9, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SST	Class A Common Stock	Award	$458K	+160K		$2.86	160K	Jul 31, 2023	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Mr. Phillips was granted 160,000 restricted stock units ("RSUs") in connection with his continued employment with System1, Inc. ("SST"). Each RSU represents the right to receive one share of SST Class A Common Stock upon vesting. Subject to the continued employment of Mr. Phillips through the applicable vesting date, all 160,000 of the RSUs will vest in full on January 27, 2024.
F2	Includes 160,000 unvested RSUs.