Brook F. Porter - Jun 14, 2021 Form 4 Insider Report for ArcLight Clean Transition Corp. (PTRAQ)

Role
Director
Signature
/s/ Joshua Damm, Attorney-in-Fact
Stock symbol
PTRAQ
Transactions as of
Jun 14, 2021
Transactions value $
$0
Form type
4
Date filed
6/16/2021, 08:44 PM
Next filing
Aug 25, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PTRAQ Common Stock Award +1M 1M Jun 14, 2021 See Footnote F1, F2
transaction PTRAQ Common Stock Award +1.53M +153.22% 2.53M Jun 14, 2021 See Footnote F2, F3

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 PTRAQ Employee Stock Option (Right to Buy) Award +201K 201K Jun 14, 2021 Common Stock 201K $4.98 Direct F3, F4
transaction PTRAQ Employee Stock Option (Right to Buy) Award +44.6K 44.6K Jun 14, 2021 Common Stock 44.6K $6.00 Direct F3, F5
transaction PTRAQ Employee Stock Option (Right to Buy) Award +20.1K 20.1K Jun 14, 2021 Common Stock 20.1K $4.78 Direct F3, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In connection with the closing of the business combination (the "Business Combination") of ArcLight Clean Transition Corp. ("ArcLight") and Proterra Inc ("Old Proterra"), G2VP I, LLC acquired shares of the Issuer's common stock at a price of $10.00 per share on the terms and conditions set forth in a subscription agreement.
F2 G2VP I, LLC, for itself and as nominee for G2VP Founders Fund I, LLC, is the record holder of the securities reported herein. The Reporting Person, together with Ben Kortlang, David Mount and Daniel Oros, is a managing member of G2VP I Associates, LLC, which is the managing member of G2VP, and may be deemed to share voting and dispositive control over the shares held by G2VP. G2VP I Associates, LLC and each of its managing members disclaim beneficial ownership of these shares held by G2VP except to the extent of any pecuniary interest therein.
F3 Pursuant to the Business Combination, each share of Old Proterra outstanding common stock was automatically converted into the right to receive shares of the Issuer's Common Stock based on a 1 to 0.8925 conversion ratio ("Conversion Ratio"). In addition, each outstanding Old Proterra equity award was automatically converted into a corresponding equity award of the Issuer based on the Conversion Ratio and with the same terms and vesting conditions as the Old Proterra equity award.
F4 The stock option vests as of 1/48 of the total shares monthly beginning on October 25, 2018 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
F5 The stock option vests as of 1/48 of the total shares monthly beginning on January 23, 2020 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
F6 The stock option vests as of 1/48 of the total shares monthly beginning on January 21, 2021 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.