Eileen Serra - 15 Sep 2022 Form 4 Insider Report for Boxed, Inc.

Role: Director
Signature: /s/ Keri Fessler, Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 15 Sep 2022
Net transactions value: $0
Form type: 4
Filing time: 19 Sep 2022, 16:08:43 UTC
Previous filing: 06 Jul 2022
Next filing: 04 Oct 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BOXD	Common Stock	Options Exercise		+6,250	+16%		45,632	15 Sep 2022	Direct	F1, F2

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	BOXD	Restricted stock units	Options Exercise	$0	-6,250	-100%	$0.000000^*	0	15 Sep 2022	Common Stock	6,250		Direct	F1, F3
transaction	BOXD	Restricted stock units	Award	$0	+66,489		$0.000000	66,489	15 Sep 2022	Common Stock	66,489		Direct	F1, F4

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

Explanation of Responses:

Id	Content
F1	Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
F2	Includes 39,382 shares of common stock acquired in a pro rata distribution in-kind, the acquisition was exempt pursuant to Rule 16a-9, of which 12,046 remain subject to forfeiture in the event the Issuer's common stock price does not exceed certain hurdles prior to December 8, 2026.
F3	On March 16, 2022, the reporting person was granted 6,250 RSUs, vesting on the day of the Issuer's first annual meeting of stockholders following the grant date, subject to continuing service on the Issuer's board of directors through the applicable vesting date.
F4	The RSUs vest on the earlier of (i) the day immediately preceding the date of the Issuer's first annual meeting of stockholders following the grant date and (ii) the anniversary of the grant date (September 15, 2023), subject to continuing service on the Issuer's board of directors through the applicable vesting date.