Brett Just - 15 Jun 2021 Form 4 Insider Report for ContextLogic Inc. (WISH)

Signature
/s/ Jilliana Wong, Attorney-in-Fact
Issuer symbol
WISH
Transactions as of
15 Jun 2021
Transactions value $
-$36,133
Form type
4
Filing time
17 Jun 2021, 21:09:47
Previous filing
20 May 2021
Next filing
21 Jun 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WISH Class A Common Stock Sale -$36.1K -3.08K -9.71% $11.72 28.7K 15 Jun 2021 Direct F1

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 WISH Restricted Stock Unit Options Exercise $0 -1.09K -6.24% $0.00 16.4K 15 Jun 2021 Class B Common Stock 1.09K $0.00 Direct F2, F3
transaction WISH Class B Common Stock Options Exercise $0 +1.09K +14.85% $0.00 8.43K 15 Jun 2021 Class A Common Stock 1.09K Direct F4, F5
transaction WISH Restricted Stock Unit Options Exercise $0 -140 -4.27% $0.00 3.14K 15 Jun 2021 Class B Common Stock 140 $0.00 Direct F3, F6
transaction WISH Class B Common Stock Options Exercise $0 +140 +1.66% $0.00 8.57K 15 Jun 2021 Class A Common Stock 140 Direct F4, F5
transaction WISH Restricted Stock Unit Options Exercise $0 -770 -4.97% $0.00 14.7K 15 Jun 2021 Class B Common Stock 770 $0.00 Direct F3, F7
transaction WISH Class B Common Stock Options Exercise $0 +770 +8.99% $0.00 9.34K 15 Jun 2021 Class A Common Stock 770 Direct F4, F5
transaction WISH Restricted Stock Unit Options Exercise $0 -92 -4.34% $0.00 2.03K 15 Jun 2021 Class B Common Stock 92 $0.00 Direct F3, F8
transaction WISH Class B Common Stock Options Exercise $0 +92 +0.99% $0.00 9.43K 15 Jun 2021 Class A Common Stock 92 Direct F4, F5
transaction WISH Restricted Stock Unit Options Exercise $0 -614 -3.7% $0.00 16K 15 Jun 2021 Class B Common Stock 614 $0.00 Direct F3, F9
transaction WISH Class B Common Stock Options Exercise $0 +614 +6.51% $0.00 10K 15 Jun 2021 Class A Common Stock 614 Direct F4, F5
transaction WISH Restricted Stock Unit Options Exercise $0 -798 -2.5% $0.00 31.1K 15 Jun 2021 Class B Common Stock 798 $0.00 Direct F3, F10
transaction WISH Class B Common Stock Options Exercise $0 +798 +7.94% $0.00 10.8K 15 Jun 2021 Class A Common Stock 798 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The sales reported on this Form 4 were effected by an automatic sale pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 16, 2021.
F2 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 20% of the RSUs vested on September 5, 2018, and an additional 1/60th of the remaining RSUs vest monthly thereafter for a period of 5 years.
F3 This reported transaction represents the settlement of RSUs vested as of June 15, 2021.
F4 All shares of Class B Common Stock will automatically convert, on a one-for-one basis, into shares of Class A Common Stock on the earliest of (i) any transfer of the Class B Common Stock by the holder, whether or not for value, subject to certain exceptions, (ii) the 7-year anniversary of the closing date of the issuer's initial public offering, (iii) the date on which the number of outstanding shares of Class B Common Stock represents less than 5% of the aggregate combined number of outstanding shares of Class A Common Stock and Class B Common Stock, (iv) the date specified by a vote of the holders of a majority of the then outstanding shares of Class B common stock, or (v) a date that is between 90 and 270 days, as determined by the board of directors, after the death or permanent incapacity of the issuer's founder, CEO, and Chairperson.
F5 Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock. Each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon any transfer, whether or not for value, except certain permitted transfers.
F6 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 20% of the RSUs vested on May 1, 2019, and an additional 1/60th of the remaining RSUs vest monthly thereafter for a period of 5 years.
F7 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 25% of the RSUs vested on January 1, 2020, and 1/36th of the RSUs vest monthly thereafter for a period of 3 years.
F8 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 1/48th of the RSUs vest monthly for a period of 4 years beginning on May 1, 2019.
F9 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 1/48th of the RSUs vest monthly for a period of 4 years beginning on September 1, 2019.
F10 Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 1/48th of the RSUs vest monthly for a period of 4 years beginning on October 1, 2020.