Gupta Karan 4/A
4/A · SHIFT TECHNOLOGIES, INC. · Filed Feb 4, 2021
Insider Transaction Report
Form 4/AAmended
Gupta Karan
See Remarks
Transactions
- Award
Performance Stock Units
2021-02-02+38,054→ 38,054 total→ Class A Common Stock (38,054 underlying) - Award
Class A Common Stock
2021-02-02+114,161→ 114,161 total
Footnotes (3)
- [F1]Represents a grant of Restricted Stock Units ("RSUs"). Each 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"). These RSUs were reported in Table II in the original Form 4 filing. This amendment is being filed to report these RSUs in Table I.
- [F2]The RSUs vest quarterly over the four-year period commencing March 25, 2021, subject to 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 RSU Agreement). The original Form 4 filing incorrectly stated that these RSUs vest quarterly following October 13, 2020.
- [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 March 25, 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. The original Form 4 filing incorrectly stated that these PSUs vest quarterly following October 13, 2022.