RICHARD WALKER - 11 Jun 2021 Form 4 Insider Report for Skillsoft Corp. (SKIL)

Role
Chief Strategy and Corporate Development Officer and President, SumTotal
Signature
/s/ Richard Walker
Issuer symbol
SKIL
Transactions as of
11 Jun 2021
Transactions value $
$0
Form type
4
Filing time
14 Jun 2021, 18:01:56 UTC
Previous filing
18 May 2021
Next filing
14 Sep 2021
SEC
View on sec.gov

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 SKIL Employee stock option (right to buy) Award $0 +194,000 $0 194,000 11 Jun 2021 Class A common stock 194,000 $10.75 Direct F1
transaction SKIL Restricted Stock Units Award $0 +97,000 $0 97,000 11 Jun 2021 Class A common stock 97,000 Direct F2, F3
transaction SKIL Restricted Stock Units Award $0 +97,000 $0 97,000 11 Jun 2021 Class A common stock 97,000 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 25% of the options will vest on June 11, 2022. The remaining 75% of the options will vest in twelve equal quarterly installments thereafter.
F2 Each restricted stock unit represents a contingent right to receive one share of Class A common stock, par value $0.001 per share, of Skillsoft Corp. ("Common Stock").
F3 The restricted stock units vest in four equal annual installments beginning June 11, 2022.
F4 The restricted stock units vest in four equal annual installments beginning June 11, 2022, but only if the closing price of a share of Common Stock, as reported on the New York Stock Exchange, equals or exceeds $12.50 on at least 20 out of 30 consecutive trading days prior to June 11, 2025.

Remarks:

Chief Strategy and Corporate Development Officer and President, SumTotal