Michael Tessler - Apr 25, 2022 Form 4 Insider Report for American Virtual Cloud Technologies, Inc. (AVCT)

Role: Director
Signature: /s/ Jason Simon, Attorney-in-Fact
Stock symbol: AVCT
Transactions as of: Apr 25, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/27/2022, 04:05 PM
Previous filing: Jan 10, 2022
Next filing: Aug 11, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVCT	Common Stock	Disposed to Issuer		-1M	-100%		0	Apr 25, 2022	Direct	F1, F2
transaction	AVCT	Common Stock	Award		+467K			467K	Apr 25, 2022	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Represents restricted stock units, each unit representing a contingent right to receive one share of the Issuer's common stock.
F2	The two reported transactions involve an amendment of an outstanding restricted stock unit award, resulting in the cancellation of the "old" restricted stock unit and the grant of a replacement restricted stock unit. The restricted stock unit was originally granted on January 6, 2022 and provided for vesting in equal quarterly installments over a three-year period commencing on May 1, 2022 (previously inadvertently reported as commencing on February 1, 2022). The amended restricted stock unit vests with respect to 83,330 shares on each of May 1, 2022, August 1, 2022, November 1, 2022, February 1, 2023 and May 1, 2023, and with respect to the remaining 50,639 shares on August 1, 2023.

Content

Represents restricted stock units, each unit representing a contingent right to receive one share of the Issuer's common stock.

The two reported transactions involve an amendment of an outstanding restricted stock unit award, resulting in the cancellation of the "old" restricted stock unit and the grant of a replacement restricted stock unit. The restricted stock unit was originally granted on January 6, 2022 and provided for vesting in equal quarterly installments over a three-year period commencing on May 1, 2022 (previously inadvertently reported as commencing on February 1, 2022). The amended restricted stock unit vests with respect to 83,330 shares on each of May 1, 2022, August 1, 2022, November 1, 2022, February 1, 2023 and May 1, 2023, and with respect to the remaining 50,639 shares on August 1, 2023.