Rebecca C. Polak - Mar 17, 2022 Form 4 Insider Report for CarLotz, Inc. (LOTZ)

Role: CCO and GC
Signature: /s/ Rebecca C. Polak
Stock symbol: LOTZ
Transactions as of: Mar 17, 2022
Transactions value $: $0
Form type: 4
Date filed: 3/21/2022, 04:05 PM
Previous filing: Nov 12, 2021
Next filing: May 17, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	LOTZ	Class A Common Stock						16.7K	Mar 17, 2022	Direct

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	LOTZ	Stock Option (right to buy)	Award	$0	+257K		$0.00	257K	Mar 17, 2022	Class A Common Stock	257K	$1.68	Direct	F3
transaction	LOTZ	Restricted Stock Units	Award	$0	+179K		$0.00	179K	Mar 17, 2022	Class A Common Stock	179K		Direct	F1, F4
holding	LOTZ	Restricted Stock Units						95.4K	Mar 17, 2022	Class A Common Stock	95.4K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Restricted stock units convert into Class A Common Stock on a one-for-one basis.
F2	These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in Class A common stock as follows: one-third of these restricted stock units vest on October 30, 2022, one-third of these restricted stock units vest on October 30, 2023 and one-third of these restricted stock units vest on October 30, 2024, assuming continued employment through the applicable vesting date.
F3	The options will vest and become exercisable in three equal annual installments commencing on March 17, 2023, subject to the Reporting Person's continuous service with the Issuer through the relevant vesting dates.
F4	The restricted stock units will vest in three equal annual installments commencing on March 17, 2023, subject to the Reporting Person's continuous service through the relevant vesting date.