Scott Mercer - 26 Aug 2021 Form 4/A - Amendment Insider Report for Volta Inc. (VLTA)

Role
Chief Executive Officer, Director
Signature
/s/ James DeGraw, as Attorney-in-Fact
Issuer symbol
VLTA
Transactions as of
26 Aug 2021
Transactions value $
$0
Form type
4/A - Amendment
Filing time
23 Feb 2022, 18:43:17 UTC
Date Of Original Report
30 Aug 2021
Next filing
06 Dec 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 VLTA Class B Common Stock Award $0 +5.25M +82.93% $0.00 11.6M 26 Aug 2021 Class A Common Stock 5.25M Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Class B Common Stock underlying a restricted stock unit award ("RSU") granted under the Issuer's Founder Incentive Plan ("the Founder Plan"). The RSU will vest upon the earliest of: (i) January 1, 2022, subject to the Reporting Person's continuing to be a Service Provider (as defined in the Founder Plan) through such date; (ii) the Reporting Person's termination of service by the Issuer without Cause; (iii) the Reporting Person's resignation from service for Good Reason; (iv) the Reporting Person's termination of service as a result of the Reporting Person's death or Disability; (v) as of immediately prior to a Change in Control; or (vi) as otherwise provided in the Reporting Person's employment agreement with the Issuer. Defined terms used in subsections (ii), (iii), (iv) and (v) of this footnote (2) are defined in the Reporting Person's employment agreement with the Issuer.

Remarks:

The Form 4 filed by the Reporting Person with the U.S. Securities and Exchange Commission on August 30, 2021 (the "August 30, 2021 Form 4") inadvertently reported an award of restricted stock units (the "August 26, 2021 RSU Award") in Table I as shares of Class A Common Stock. The securities underlying the August 26, 2021 RSU Award are shares of Class B Common Stock, and this amendment is being filed to correct the August 30, 2021 Form 4 by moving the August 26, 2021 RSU Award from Table I to Table II and updating the number of derivative securities beneficially owned under column 9 of Table II.