David Cane - Aug 9, 2022 Form 4 Insider Report for Wag! Group Co. (PET)

Role
Chief Customer Officer
Signature
/S/ David Cane
Stock symbol
PET
Transactions as of
Aug 9, 2022
Transactions value $
$0
Form type
4
Date filed
8/9/2022, 07:31 PM
Next filing
Dec 5, 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 PET Options to purchase shares of Wag! Group Co. common stock Award +9.72K 9.72K Aug 9, 2022 Common Stock 9.72K $2.86 Direct F1, F4, F5
transaction PET Options to purchase shares of Wag! Group Co. common stock Award +63K 63K Aug 9, 2022 Common Stock 63K $0.09 Direct F2, F4
transaction PET Options to purchase shares of Wag! Group Co. common stock Award +18.5K 18.5K Aug 9, 2022 Common Stock 18.5K $0.16 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The options to purchase shares of Wag! Group Co. (the "Issuer") common stock ("Options") vest in 48 equal monthly installments with a one year cliff beginning on September 18, 2019.
F2 25% of the Options vested on March 18, 2020, with the remaining Options vesting in 36 equal monthly installments beginning on January 6, 2020.
F3 50% of the Options vested on March 2, 2021, with the remaining Options vesting in 24 equal monthly installments beginning on January 6, 2021.
F4 Upon the closing of the Business Combination, all shares of Wag! Labs, Inc. converted into Wag! Group Co. shares on a 1 for 0.97 basis.
F5 The Business Combination Agreement provides that certain eligible company equity holders will receive earn-out shares as additional consideration for the company interests acquired in connection with the Business Combination, for no consideration, after certain triggering events as defined in the Business Combination Agreement. The reporting person's right to receive additional shares pursuant to this earn-out right became fixed on August 9, 2022, the effective date of the Business Combination.