Daniel Stewart Butterfield - 01 Jul 2021 Form 4 Insider Report for Slack Technologies, Inc. (WORK)

Role
Chief Executive Officer, Director
Signature
/s/ David Schellhase, as Attorney-in-Fact
Issuer symbol
WORK
Transactions as of
01 Jul 2021
Transactions value $
-$4,837,175
Form type
4
Date filed
06 Jul 2021, 17:02
Next filing
21 Jul 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WORK Class A Common Stock Conversion of derivative security $0 +229K +23.5% $0.00 1.2M 01 Jul 2021 Direct F1
transaction WORK Class A Common Stock Sale -$4.84M -109K -9.09% $44.26 1.09M 01 Jul 2021 Direct 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 WORK Restricted Stock Units Options Exercise $0 -229K -75% $0.00 76.3K 01 Jul 2021 Class B Common Stock 229K Direct F1, F3, F4
transaction WORK Class B Common Stock Options Exercise $0 +229K +0.6% $0.00 38.6M 01 Jul 2021 Class A Common Stock 229K Direct F1
transaction WORK Class B Common Stock Conversion of derivative security $0 -229K -0.59% $0.00 38.4M 01 Jul 2021 Class A Common Stock 229K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock is convertible without payment or consideration into one share of Class A Common Stock at the option of the holder and has no expiration date.
F2 Shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units (RSUs).
F3 Each RSU represents the right to receive one share of Class B Common Stock.
F4 The RSUs are subject to time-based and performance-based vesting criteria. The time-based vesting occurred with respect to 130,743 of the units on October 1, 2017; and the remaining units vested at a rate of 4.286% of the total RSU grant per quarter thereafter until June 20, 2019, at which point the remaining unvested units began vesting at a rate of 7.5% of the total RSU grant per quarter, subject, in each case, to the Reporting Persons's continued service with the Issuer on each such date. The performance-based criteria was satisfied upon the Issuer's listing and public trading of its Class A Common Stock on June 20, 2019.