Jeff Clementz - 12 May 2022 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
12 May 2022
Transactions value $
-$29,071
Form type
4
Filing time
06 Jun 2022, 19:19:46 UTC
Previous filing
06 Dec 2021
Next filing
22 Nov 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 +586K +90.91% $0.00 1.23M 12 May 2022 Direct F1, F2
transaction SFT Class A Common Stock Tax liability -$29.1K -29.1K -2.36% $1.00 1.2M 20 May 2022 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 The RSUs vest on September 30, 2023, subject to continued service with the Company or an affiliate of the Company. Vested RSUs will be settled during the first open trading window of the Company following the date of vesting.
F3 Represents shares withheld by the Company to satisfy tax withholding obligations in connection with the vesting of restricted stock units granted to the reporting person. The number of shares of Class A Common Stock withheld was determined based on the closing price of the Company's Class A Common Stock on May 20, 2022.