Jeffrey M. Mayfield - Feb 6, 2025 Form 3 Insider Report for Latch, Inc. (LTCH)

Role: Chief Financial Officer
Signature: /s/ Priyen Patel, Attorney-in-fact
Stock symbol: LTCH
Transactions as of: Feb 6, 2025
Transactions value $: $0
Form type: 3
Date filed: 2/12/2025, 05:35 PM
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	LTCH	Common Stock						0	Feb 6, 2025	Direct	F1

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
holding	LTCH	Performance Stock Option							Feb 6, 2025	Common Stock	375K	$0.48	Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	The reporting person owns no common stock. However, pursuant to his amended and restated employment agreement, he is entitled to receive 130,000 restricted stock units ("RSUs") following the effectiveness of the Issuer's Registration Statement on Form S-8. Such RSUs will vest over a three year period commencing on the reporting person's September 5, 2023 start date.
F2	The Performance Stock Option was granted on September 13, 2024.
F3	The Performance Stock Option will conditionally vest in three equal tranches in the event the volume weighted average price of the Issuer's common stock for a period of 60 days equals or exceeds each of $4.00, $5.00 and $6.00 per share, respectively, subject to additional time-based vesting requirements. If the foregoing price thresholds are met, 25% of the shares in the tranche will vest immediately, and the remaining 75% of the shares in the tranche will vest in three equal annual installments thereafter. In addition, to the extent vested, (i) the first tranche will become exercisable in four equal installments on the second, third, fourth and fifth anniversaries of the grant date, (ii) the second tranche will become exercisable in four equal installments on the third, fourth, fifth and sixth anniversaries of the grant date, and (iii) the third tranche will become exercisable in four equal installments on the fourth, fifth, sixth and seventh anniversaries of the grant date.