Harry Margolis - Feb 10, 2022 Form 4 Insider Report for Zevia PBC (ZVIA)

Signature
/s/ Lorna R. Simms, Attorney-in-Fact for Harry Margolis
Stock symbol
ZVIA
Transactions as of
Feb 10, 2022
Transactions value $
-$298,876
Form type
4
Date filed
2/14/2022, 08:19 PM
Previous filing
Jul 28, 2021
Next filing
Mar 11, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ZVIA Class A Common Stock Options Exercise $900 +90K +12.5% $0.01* 810K Feb 10, 2022 Direct F1
transaction ZVIA Class A Common Stock Disposed to Issuer -$902 -118 -0.01% $7.64 810K Feb 10, 2022 Direct F1
transaction ZVIA Class A Common Stock Tax liability -$299K -31.9K -3.93% $9.38 778K Feb 10, 2022 Direct 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 ZVIA Restricted Phantom Units Options Exercise $0 -90K -100% $0.00* 0 Feb 10, 2022 Class A Common Stock 90K $0.01 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 90,000 restricted phantom units that vested on January 21, 2022 and were settled on February 10, 2022. Each restricted phantom unit represented the right to receive a number of shares of Class A Common Stock of the Issuer with a fair market value equal to (i) the total number of restricted phantom units, multiplied by (ii) the difference between (x) the fair market value of a share of Class A Common Stock of the Issuer on the vesting date and (y) the exercise price per unit.
F2 The transaction reported reflects the withholding of shares of Class A Common Stock in satisfaction of the Reporting Person's tax liability in connection with the settlement of the restricted phantom units.
F3 Includes 720,000 restricted stock units ("RSUs"). Each RSU represents the right to receive one share of Class A Common Stock of the Issuer. 570,000 RSUs will vest as follows: (i) 100% on the consummation of a change of control or (ii) in equal monthly installments over the 36-month period following January 17, 2022, and 150,000 RSUs are vested in full, subject to deferred settlement in one-third increments on each of January 17, 2023, January 17, 2024, and January 17, 2025.