Mitchell W. Pratt - 17 Sep 2021 Form 4 Insider Report for Clean Energy Fuels Corp. (CLNE)

Role: COO and Secretary
Signature: /s/ J. Nathan Jensen, Attorney-in-Fact, for Mitchell Pratt
Issuer symbol: CLNE
Transactions as of: 17 Sep 2021
Transactions value $: $138,497
Form type: 4
Filing time: 21 Sep 2021, 17:13:11 UTC
Next filing: 03 Dec 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership
transaction	CLNE	Common Stock	Options Exercise	$28.1K	+12.9K	+1.81%	$2.19	722K	17 Sep 2021	By Family Trust
transaction	CLNE	Common Stock	Options Exercise	$44.7K	+17.4K	+2.42%	$2.56	739K	17 Sep 2021	By Family Trust
transaction	CLNE	Common Stock	Options Exercise	$65.7K	+30K	+4.06%	$2.19	769K	20 Sep 2021	By Family Trust

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	CLNE	Stock Option (Right to Buy)	Options Exercise	$0	-12.9K	-50.75%	$0.00	12.5K	17 Sep 2021	Common Stock	12.9K	$2.19	By Family Trust	F2
transaction	CLNE	Stock Option (Right to Buy)	Options Exercise	$0	-17.4K	-34%	$0.00	33.9K	17 Sep 2021	Common Stock	17.4K	$2.56	By Family Trust	F1
transaction	CLNE	Stock Option (Right to Buy)	Options Exercise	$0	-30K	-34.01%	$0.00	58.2K	20 Sep 2021	Common Stock	30K	$2.19	By Family Trust	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	34% of the total shares subject to stock option award, vested on the first anniversary of the date of grant, and 33% vest on each anniversary thereafter until the award is fully vested.
F2	The remaining shares subject to the stock option award vest on the third anniversary of the grant date if, as of such date, the applicable Volume Hurdle has been achieved. For this purpose, the "Volume Hurdle" will have been achieved if, as of the applicable vesting date, the volume of gasoline gallon equivalents of natural gas delivered by the Issuer in its most recently completed fiscal year has increased by 10% or more relative to the volume of gasoline gallon equivalents of natural gas delivered by the Issuer in the fiscal year immediately preceding the Issuer's most recently completed fiscal year.

Content

34% of the total shares subject to stock option award, vested on the first anniversary of the date of grant, and 33% vest on each anniversary thereafter until the award is fully vested.

The remaining shares subject to the stock option award vest on the third anniversary of the grant date if, as of such date, the applicable Volume Hurdle has been achieved. For this purpose, the "Volume Hurdle" will have been achieved if, as of the applicable vesting date, the volume of gasoline gallon equivalents of natural gas delivered by the Issuer in its most recently completed fiscal year has increased by 10% or more relative to the volume of gasoline gallon equivalents of natural gas delivered by the Issuer in the fiscal year immediately preceding the Issuer's most recently completed fiscal year.