Lance Rosenzweig - Sep 14, 2021 Form 4 Insider Report for Support.com, Inc. (SPRT)

Role
President and CEO, Director
Signature
/s/ Lance Rosenzweig
Stock symbol
SPRT
Transactions as of
Sep 14, 2021
Transactions value $
$37,743
Form type
4
Date filed
9/15/2021, 06:27 PM
Previous filing
Jun 2, 2021
Next filing
Apr 10, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPRT Common Stock Purchase $16.5K +10K +9.69% $1.65* 113K May 14, 2021 Direct F1
transaction SPRT Common Stock Purchase $21.3K +9.73K +8.6% $2.19* 123K Sep 1, 2021 Direct F2
transaction SPRT Common Stock Disposed to Issuer -123K -100% 0 Sep 14, 2021 Direct F3, F4, F5
transaction SPRT Common Stock Disposed to Issuer -100K -100% 0 Sep 14, 2021 By the Lance Evan Rosenzweig Living Trust dated January 9, 2017 F3, F4

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 SPRT Non-Qualified Stock Option Disposed to Issuer $0 -600K -100% $0.00* 0 Sep 14, 2021 Common Stock 600K $1.61 Direct F3, F4, F6, F7
transaction SPRT Non-Qualified Stock Option Disposed to Issuer $0 -322K -100% $0.00* 0 Sep 14, 2021 Common Stock 322K $1.61 Direct F3, F4, F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Lance Rosenzweig is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 The Reporting Person is reporting the acquisition of 10,000 shares of common stock, par value $0.0001 per share, of Support.com, Inc., a Delaware corporation (the "Company") (the "Common Stock") pursuant to the Company's Amended and Restated 2011 Employee Stock Purchase Plan, on May 14, 2021.
F2 The Reporting Person is reporting the acquisition of 9,727 shares of Common Stock pursuant to the Company's Amended and Restated 2011 Employee Stock Purchase Plan, on September 1, 2021.
F3 The Company entered into an Agreement and Plan of Merger (the "Merger Agreement"), dated as of March 19, 2021, by and among the Company, Greenidge Generation Holdings Inc., a Delaware corporation ("Greenidge") and GGH Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Greenidge ("Merger Sub"). On September 14, 2021, Merger Sub merged with and into the Company, the separate corporate existence of Merger Sub ceased and the Company survived the merger as a direct wholly owned subsidiary of Greenidge.
F4 (Continued from Footnote 3) Pursuant to the terms of the Merger Agreement, (i) each share of Common Stock and each restricted stock unit of the Company that was outstanding as of the closing of the merger (the "Closing") was converted into the right to receive 0.115 shares of class A common stock, par value $0.0001 per share, of Greenidge (the "Greenidge Class A Common Stock") (the "Exchange Ratio") and (ii) each holder of an option to purchase Common Stock that was outstanding as of the Closing received an amount of shares of Greenidge Class A Common Stock equal to the Exchange Ratio, multiplied by the number of shares of Common Stock underlying such option, less a number of shares of Greenidge Class A Common Stock to be withheld in satisfaction of the aggregate exercise price of such option and, unless such holder has elected to satisfy such obligation with cash, such holder's tax withholding obligations.
F5 Represents 97,504 shares of Common Stock and 25,380 restricted stock units held by the Reporting Person.
F6 The non-qualified stock option was granted to the Reporting Person under the Company's Third Amended and Restated 2010 Equity and Performance Incentive Plan ("2010 Option").
F7 The vesting of the shares subject to the 2010 Option are subject to a performance vesting requirement and a service vesting requirement, both of which must be satisfied during the term of the 2010 Option. Each share subject to the 2010 Option becomes vested on the later of the satisfaction of the performance vesting requirement and completion of the service vesting requirement.
F8 The non-qualified stock option was granted to the Reporting Person under the Company's 2014 Inducement Award Plan ("2014 Option").
F9 Subject to Reporting Person's continued employment with the Company, 1/36th of the shares subject to the 2014 Option vest each month beginning on August 10, 2020 ("Start Date"), with full vesting on the three (3) year anniversary of the Start Date.