Eugene Kovshilovsky - 16 May 2022 Form 4 Insider Report for CarLotz, Inc.

Role
Chief Technology Officer
Signature
/s/ Rebecca C. Polak as attorney-in-fact for Mr. Kovshilovsky
Issuer symbol
N/A
Transactions as of
16 May 2022
Net transactions value
$0
Form type
4
Filing time
18 May 2022, 16:11:58 UTC
Previous filing
25 Apr 2022
Next filing
12 Dec 2022
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 LOTZ Restricted Stock Units Award $0 +600,000 $0.000000 600,000 16 May 2022 Class A Common Stock 600,000 Direct F1, F2
transaction LOTZ Restricted Stock Units Award $0 +500,000 $0.000000 500,000 16 May 2022 Class A Common Stock 500,000 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis.
F2 These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in Class A common stock as follows: one-fourth of these restricted stock units vest on April 17, 2023, one-fourth of these restricted stock units vest on April 17, 2024, one-fourth of these restricted stock units vest on April 17, 2025 and one-fourth of these restricted stock units vest on April 17, 2026, assuming continued employment through the applicable vesting date.
F3 These restricted stock units will vest if the following provisions are met: (i) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $4.00; (ii) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $8.00; and (iii) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $12.00, subject to the Reporting Person's continuous service with the Issuer through the relevant vesting dates.