Stephen B. Galasso - 28 Feb 2023 Form 4 Insider Report for Elevate Credit, Inc.

Reporting relationship: Director
Issuer ticker: N/A
Reported as of: 28 Feb 2023
Net transaction value: -$376,280
SEC form: 4
Accepted by SEC: 02 Mar 2023, 16:45:17 UTC
Prior SEC filing: 17 May 2022
Source filing: View source filing
Reporting owner signature: /s/Nelda Bruce, as attorney-in-fact

Key filing fact

Stephen B. Galasso filed Form 4 for Elevate Credit, Inc. on 02 Mar 2023.

Key facts

This page summarizes Stephen B. Galasso's Form 4 filing for Elevate Credit, Inc..
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 02 Mar 2023, 16:45.

Change

Previous filing in this sequence was filed on 17 May 2022.
Current net transaction value: -$376,280.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

ELVT transaction

Common Stock

Disposed to Issuer

Transaction value: $376,280
Shares: -201,219
Change %: -100%
Price: $1.87
Shares after: 0
Date: 28 Feb 2023
Ownership: By the Stephen and Linda Galasso Family Trust
Footnotes: F1, F2, F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

ELVT transaction Derivative

Restricted Stock Unit (RSU)

Disposed to Issuer

Transaction value
Shares: -47,210
Change %: -100%
Price
Shares after: 0
Date: 28 Feb 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 47,210
Exercise price
Footnotes: F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Stephen B. Galasso is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 4 footnotes

Footnote F1

131,740 previously reported shares were reported as directly owned and have been retitled and are now owned indirectly by the Stephen and Linda Galasso Family Trust. This Form 4 reflects the correct allocation of shares held directly and indirectly by Mr. Galasso.

Footnote F2

Pursuant to the Agreement and Plan of Merger, dated as of November 16, 2022 (the "Merger Agreement"), by and among Elevate Credit, Inc., ("the Company), PCAM Acquisition Corp ("Parent") and PCAM Merger Sub Corp ("Merger Sub"), the Merger Sub merged with and into the Company ("the Merger") with the Company surviving the Merger as a wholly owned subsidiary of Parent. Pursuant to the Merger Agreement, at the effective time of the Merger, each share of the Company's Common Stock, par value $0.0004 per share, was cancelled and converted into the right to receive $1.87 in cash.

Footnote F3

Mr. Galasso and his spouse, Linda Galasso, are the voting trustees of the Stephen and Linda Galasso Family Trust.

Footnote F4

Pursuant to the Merger Agreement, each restricted stock unit award ("RSU") granted by the Company that is outstanding immediately prior to the effective time of the Merger (whether or not vested) will immediately vest in full and become free of restrictions, and will be cancelled and converted automatically into the right to receive a cash payment equal to the product of (1) the number of shares of Company Common Stock subject to such RSU as of the effective time of the Merger, multiplied by (2) the Merger Consideration. The reporting person was granted 47,210 RSUs on May15,2022, vesting annually on the grant date and converting into common stock on a one-for-one basis.