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

Role
President
Signature
/s/ George Arison, Attorney in fact for Jeff Clementz
Issuer symbol
SFT
Transactions as of
02 Dec 2021
Transactions value $
$0
Form type
4
Filing time
06 Dec 2021, 16:23:15 UTC
Previous filing
01 Oct 2021
Next filing
06 Jun 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 +645K $0.00 645K 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 +195K $0.00 195K 02 Dec 2021 Class A Common Stock 195K $0.00 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 58,634 of the RSUs vest on April 1, 2022. Of the remaining 586,338 RSUs, 25% vest on October 1, 2022 with the remainder vesting in 12 equal quarterly tranches. Vested RSU awards are settled during the next open trading window of the Company following each calendar quarter. Vesting is 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 on October 1, 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.

Remarks:

Exh 24 Power of Attorney