Key facts
- This page summarizes Michael W. Bor's Form 4 filing for CarLotz, Inc..
- 5 reported transactions and 8 derivative rows are listed below.
- Accepted by SEC: 12 May 2022, 16:27.
Michael W. Bor - 24 Mar 2022 Form 4 Insider Report for CarLotz, Inc.
- Reporting relationship
- 10%+ Owner
- Issuer ticker
- N/A
- Reported as of
- 24 Mar 2022
- Net transaction value
- -$237,377
- SEC form
- 4
- Accepted by SEC
- 12 May 2022, 16:27:43 UTC
- Prior SEC filing
- 02 Feb 2022
- Source filing
- View source filing
- Reporting owner signature
- /s/ Michael W. Bor
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
Michael W. Bor filed Form 4 for CarLotz, Inc. on 12 May 2022.
Change
- Previous filing in this sequence was filed on 02 Feb 2022.
- Current net transaction value: -$237,377.
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
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
LOTZ
transaction
Class A Common Stock
Options Exercise
- Transaction value
- $0
- Shares
- +22,026
- Change %
- +0.25%
- Price
- $0.000000
- Shares after
- 8,936,329
- Date
- 24 Mar 2022
- Ownership
- Direct
- Footnotes
- F1
LOTZ
transaction
Class A Common Stock
Sale
- Transaction value
- $13,419
- Shares
- -8,371
- Change %
- -0.09%
- Price
- $1.60*
- Shares after
- 8,927,958
- Date
- 24 Mar 2022
- Ownership
- Direct
- Footnotes
- F2
LOTZ
transaction
Class A Common Stock
Sale
- Transaction value
- $138,958
- Shares
- -180,465
- Change %
- -2%
- Price
- $0.7700
- Shares after
- 8,747,493
- Date
- 10 May 2022
- Ownership
- Direct
- Footnotes
- F3
LOTZ
transaction
Class A Common Stock
Sale
- Transaction value
- $85,000
- Shares
- -125,000
- Change %
- -1.4%
- Price
- $0.6800
- Shares after
- 8,622,493
- Date
- 11 May 2022
- Ownership
- Direct
- Footnotes
- F4
LOTZ
holding
Class A Common Stock
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 952,593
- Date
- 24 Mar 2022
- Ownership
- Held by Bor Family Trust
LOTZ
holding
Class A Common Stock
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 352,593
- Date
- 24 Mar 2022
- Ownership
- Held by Bor Grantor Retained Annuity Trust
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
LOTZ
transaction
Derivative
Restricted Stock Units
Options Exercise
- Transaction value
- $0
- Shares
- -22,026
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 24 Mar 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 22,026
- Exercise price
- Footnotes
- F8, F9
LOTZ
holding
Derivative
Earnout Rights
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 897,341
- Date
- 24 Mar 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 897,341
- Exercise price
- Footnotes
- F5
LOTZ
holding
Derivative
Stock Option (right to buy)
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 254,818
- Date
- 24 Mar 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 254,818
- Exercise price
- $0.6400
- Footnotes
- F6
LOTZ
holding
Derivative
Stock Option (right to buy)
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 613,480
- Date
- 24 Mar 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 613,480
- Exercise price
- $0.9200
- Footnotes
- F7
LOTZ
holding
Derivative
Stock Option (right to buy)
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 509,637
- Date
- 24 Mar 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 509,637
- Exercise price
- $0.9200
- Footnotes
- F7
LOTZ
holding
Derivative
Stock Option (right to buy)
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 64,108
- Date
- 24 Mar 2022
- Ownership
- Direct
- Underlying class
- Class A Common Stock
- Underlying amount
- 64,108
- Exercise price
- $11.35
- Footnotes
- F6
LOTZ
holding
Derivative
Earnout Rights
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 105,064
- Date
- 24 Mar 2022
- Ownership
- Held by Bor Family Trust
- Underlying class
- Class A Common Stock
- Underlying amount
- 105,064
- Exercise price
- Footnotes
- F5
LOTZ
holding
Derivative
Earnout Rights
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 105,064
- Date
- 24 Mar 2022
- Ownership
- Held by Bor Grantor Retained Annuity Trust
- Underlying class
- Class A Common Stock
- Underlying amount
- 105,064
- Exercise price
- Footnotes
- F5
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 9 footnotes
Footnote F1
Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis. The restricted stock units vested in Class A common stock on March 16, 2022.
Footnote F2
The sale reported in the Form 4 was effected pursuant to a Rule 10b5-1 instruction solely with the intent to cover withholding taxes in connection with the settlement of restricted stock units.
Footnote F3
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.70 to $0.81, inclusive. The reporting person undertakes to provide to CarLotz, Inc., any security holder of CarLotz, Inc., 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 ranges set forth in footnotes (3) and (4) to this Form 4.
Footnote F4
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.61 to $0.76, inclusive.
Footnote F5
These earnout rights will vest if, prior to January 21, 2026, the closing share price of the Class A common stock exceeds the following thresholds. One-half will be issued if the closing share price of the Class A common stock exceeds $12.50 for any 20 trading days within any 30 trading day period and one-half will be issued if the closing share price of the Class A common stock exceeds $15.00 for any 20 trading days within any 30 trading day period.
Footnote F6
Pursuant to the terms of the Separation and Release Agreement between CarLotz, Inc. and the reporting person dated March 14, 2022 (the "Separation Agreement"), these options are fully vested and exercisable until June 16, 2022.
Footnote F7
These options are fully vested and exercisable in accordance with their terms.
Footnote F8
Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis.
Footnote F9
Pursuant to the terms of the Separation Agreement, these restricted stock units fully vested on March 16, 2022.