Jeannine P. Sargent - 14 Jun 2021 Form 4 Insider Report for ArcLight Clean Transition Corp. (PTRAQ)

Role
Director
Signature
/s/ Joshua Damm, Attorney-in-Fact
Issuer symbol
PTRAQ
Transactions as of
14 Jun 2021
Net transactions value
$0
Form type
4
Filing time
16 Jun 2021, 20:52:23 UTC
Previous filing
10 Jun 2021
Next filing
22 Jul 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 PTRAQ Stock Option (Right to Buy) Award +200,812 200,812 14 Jun 2021 Common Stock 200,812 $5.41 Direct F1, F2
transaction PTRAQ Stock Option (Right to Buy) Award +44,625 44,625 14 Jun 2021 Common Stock 44,625 $6.00 Direct F2, F3
transaction PTRAQ Stock Option (Right to Buy) Award +20,081 20,081 14 Jun 2021 Common Stock 20,081 $4.78 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 1/48 of the total shares underlying the option vest monthly beginning on November 18, 2018 until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F2 Pursuant to the business combination of ArcLight Clean Transition Corp. and Proterra Inc ("Old Proterra"), each share of Old Proterra outstanding common stock was automatically converted into the right to shares of the Issuer's Common Stock based on a 1 to 0.8925 conversion ratio ("Conversion Ratio"). In addition, each outstanding Old Proterra equity award was automatically converted into a corresponding equity award of the Issuer based on the Conversion Ratio and with the same terms and vesting conditions as the Old Proterra equity awards.
F3 1/48 of the total shares underlying the option vest monthly beginning on January 23, 2020 until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F4 1/48 of the total shares underlying the option vest monthly beginning on January 21, 2021 until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.