Benjamin Dunham - Oct 20, 2021 Form 4 Insider Report for WeWork Inc. (WE)

Role
Chief Financial Officer
Signature
/s/ Benjamin Dunham, by Jared DeMatteis as Attorney-in-Fact
Stock symbol
WE
Transactions as of
Oct 20, 2021
Transactions value $
$0
Form type
4
Date filed
10/22/2021, 04:52 PM
Next filing
Mar 24, 2022

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 WE Stock Option (right to buy) Award +8.55K 8.55K Oct 20, 2021 Common Stock 8.55K $32.38 Direct F1, F2
transaction WE Stock Option (right to buy) Award +18.4K 18.4K Oct 20, 2021 Common Stock 18.4K $46.43 Direct F1, F3
transaction WE Stock Option (right to buy) Award +19.8K 19.8K Oct 20, 2021 Common Stock 19.8K $2.55 Direct F1, F4
transaction WE Stock Option (right to buy) Award +248K 248K Oct 20, 2021 Common Stock 248K $2.51 Direct F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On October 20, 2021, (i) BowX Acquisition Corp. ("BowX") consummated a business combination (the "Business Combination") by and among BowX, BowX Merger Subsidiary Corp., a Delaware corporation ("Merger Sub"), BowX Merger Subsidiary II, LLC, a Delaware limited liability company ("Merger Sub II") and WeWork Inc., a Delaware corporation ("Legacy WeWork"), (ii) BowX changed its name to "WeWork Inc." and (iii) Merger Sub merged with and into Legacy WeWork (the "First Merger") and the surviving corporation of the First Merger merged with and into Merger Sub II. As part of the Business Combination, each Legacy WeWork stock option was exchanged for a stock option to acquire 0.82619 shares of common stock of WeWork Inc.
F2 20% of the option vested and became exercisable on January 16, 2019, after which 1/60 of the option vests on the 16th of each month through January 16, 2023.
F3 The first 10% of the option is fully vested and exercisable. An additional 15% of the option will vest on each of March 16, 2022, March 16, 2023, March 16, 2024 and March 16, 2025. The final 30% of the option will vest on March 16, 2026.
F4 One third of the option vested and became exercisable on January 15, 2021, after which 1/12 of the option vests on each April 15, July 15, October 15 and January 15 through January 15, 2023.
F5 One third of the option will vest on November 18, 2021, after which 1/12 of the option vests on each February 18, May 18, August 18 and November 18 through November 18, 2023.