John Civantos - Jul 31, 2023 Form 4 Insider Report for System1, Inc. (SST)

Role: Director
Signature: /s/ Daniel Weinrot, Attorney-in-Fact for John Civantos
Stock symbol: SST
Transactions as of: Jul 31, 2023
Transactions value $: $0
Form type: 4
Date filed: 8/2/2023, 07:01 PM
Previous filing: Jun 22, 2022
Next filing: Jun 13, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SST	Class A Common Stock	Award	$0	+66.4K	+58.77%	$0.00	179K	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	Represents a grant of 66,433 restricted stock units ("RSUs) which convert into Class A Common Stock on a one-for-one basis, pursuant to the 2022 Incentive Award Plan of the Issuer in connection with Mr. Civantos' continued service as a member of its Board of Directors as of the close of business on the date of its annual shareholder meeting. The RSUs vest in four (4) substantially equal quarterly installments on each of September 15, 2023, December 15, 2023, March 15, 2024 and June 15, 2024 as long Mr. Civantos continues to serve as a Director of the Issuer through the applicable vesting dates.
F2	Includes 66,433 unvested RSUs.

Content

Represents a grant of 66,433 restricted stock units ("RSUs) which convert into Class A Common Stock on a one-for-one basis, pursuant to the 2022 Incentive Award Plan of the Issuer in connection with Mr. Civantos' continued service as a member of its Board of Directors as of the close of business on the date of its annual shareholder meeting. The RSUs vest in four (4) substantially equal quarterly installments on each of September 15, 2023, December 15, 2023, March 15, 2024 and June 15, 2024 as long Mr. Civantos continues to serve as a Director of the Issuer through the applicable vesting dates.

Includes 66,433 unvested RSUs.