Sean Foy - 02 Dec 2021 Form 4 Insider Report for SHIFT TECHNOLOGIES, INC. (SFT)

Role: Chief Operating Officer
Signature: /s/ George Arison, attorney-in-fact for Sean Foy
Issuer symbol: SFT
Transactions as of: 02 Dec 2021
Transactions value $: $0
Form type: 4
Filing time: 06 Dec 2021, 16:22:59 UTC
Previous filing: 15 Oct 2021
Next filing: 28 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SFT	Class A Common Stock	Award	$0	+93.8K	+28.49%	$0.00	423K	02 Dec 2021	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	SFT	Performance Stock Units	Award	$0	+31.3K		$0.00	31.3K	02 Dec 2021	Class A Common Stock	31.3K		Direct	F3

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

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share of Shift Technologies, Inc. (the "Company").
F2	25% of the RSUs vest in November 2022, with the remainder vesting thereafter in twelve equal quarterly installments subject to continued employment with the Company or an affiliate of the Company.
F3	Represents a grant of Performance Stock Units ("PSUs"). Each PSU represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share, of the Company. The PSUs vest quarterly over the two-year period commencing in November 2023, subject to the achievement of the applicable pre-determined performance target for the applicable performance year and the continued employment with the Company or an affiliate of the Company (subject to certain exceptions for termination without cause or for good reason as described in the award agreement). Vested PSUs are settled during the first open trading window of the Company following each calendar quarter.