Tarun Kumar Jain - Feb 15, 2023 Form 4 Insider Report for ContextLogic Inc. (WISH)

Role
Chief Product Officer
Signature
/s/ Marianne Lewis, Attorney-in-Fact
Stock symbol
WISH
Transactions as of
Feb 15, 2023
Transactions value $
-$173,567
Form type
4
Date filed
2/17/2023, 06:08 PM
Previous filing
Feb 6, 2023
Next filing
Mar 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WISH Class A Common Stock Options Exercise $0 +362K $0.00 362K Feb 15, 2023 Direct F1
transaction WISH Class A Common Stock Tax liability -$174K -184K -50.69% $0.95 179K Feb 15, 2023 Direct F2

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 WISH Restricted Stock Unit Options Exercise $0 -92.2K -10% $0.00 830K Feb 15, 2023 Class A Common Stock 92.2K $0.00 Direct F3, F4
transaction WISH Restricted Stock Unit Options Exercise $0 -270K -11.11% $0.00 2.16M Feb 15, 2023 Class A Common Stock 270K $0.00 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person was granted restricted stock units ("RSUs") which represent a contingent right to receive one share of Issuer's Class A Common Stock for each RSU. This reported transaction represents the settlement of RSUs vested as of February 15, 2023.
F2 Represents the number of shares withheld by the Issuer to satisfy the tax withholding obligation in connection with the settlement of RSUs.
F3 Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock. Subject to the Reporting Person's continuous service, 6.25% of the RSUs will vest on a quarterly basis beginning on August 15, 2021 (with all quarterly vesting events occurring on a "Company Vesting Date" of February 15, May 15, August 15, or November 15). Vested RSUs will settle on or following the vesting date, but in any event within 60 days following the vesting date (unless the Reporting Person and the Company have agreed in writing to a later settlement date pursuant to procedures the Company may prescribe at its discretion).
F4 This reported transaction represents the settlement of RSUs vested as of February 15, 2023.
F5 Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock. Subject to the Reporting Person's continuous service, 1/12th of the RSUs will vest on a quarterly basis beginning on May 15, 2022 (with all quarterly vesting events occurring on a "Company Vesting Date" of February 15, May 15, August 15, or November 15). Vested RSUs will settle on or following the vesting date, but in any event within 60 days following the vesting date (unless the Reporting Person and the Company have agreed in writing to a later settlement date pursuant to procedures the Company may prescribe at its discretion).