Richard Correia - Mar 7, 2024 Form 4 Insider Report for MONEYLION INC. (ML)

Signature
/s/ Adam VanWagner, as Attorney-in-Fact for Richard Correia
Stock symbol
ML
Transactions as of
Mar 7, 2024
Transactions value $
-$423,343
Form type
4
Date filed
3/8/2024, 08:01 PM
Previous filing
Feb 16, 2024
Next filing
Mar 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ML Class A Common Stock Award $0 +50.9K +34.59% $0.00 198K Mar 7, 2024 Direct F1, F4
transaction ML Class A Common Stock Award $0 +50.1K +25.27% $0.00 248K Mar 7, 2024 Direct F2, F4
transaction ML Class A Common Stock Tax liability -$423K -8.06K -3.25% $52.55 240K Mar 7, 2024 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Class A common stock, par value $0.0001 per share ("Class A Common Stock"), of MoneyLion Inc. (the "Company") underlying restricted stock units ("RSUs") that were granted to the Reporting Person by the Compensation Committee (the "Committee") of the Board of Directors of the Company, each of which represents a contingent right to receive one share of Class A Common Stock. The RSUs will vest quarterly in twelve equal installments on the 15th day of each February, May, August and November beginning on May 15, 2024, subject to the Reporting Person's continued service with the Company or one of its subsidiaries through the applicable vesting date.
F2 Represents shares of Class A Common Stock underlying performance share units ("PSUs") that were previously granted to the Reporting Person in 2023, which were subject to the achievement of certain performance goals during the year ended December 31, 2023. The number of PSUs set forth in Table I above represents the total number of PSUs earned upon achievement of the performance goals, the achievement of which was certified by the Committee on March 7, 2024. One-third of the earned PSUs vested immediately on the date of the Committee's certification. The remainder will vest quarterly in eight equal installments on the 15th day of each February, May, August and November beginning on May 15, 2024, subject to the Reporting Person's continued service with the Company or one of its subsidiaries through the applicable vesting date.
F3 Represents shares of Class A Common Stock withheld to cover payment of the tax liabilities of the Reporting Person related to the vesting of 16,690 PSUs, the acquisition of which is reported herein.
F4 Includes RSUs and PSUs, each of which represents a contingent right to receive one share of Class A Common Stock and the acquisition of which was previously reported in Table I of the Reporting Person's prior Form 4s.

Remarks:

On April 24, 2023, the Company effected a reverse stock split (the "Reverse Stock Split") of the Class A Common Stock pursuant to which every 30 shares of Class A Common Stock were automatically reclassified into one new share of Class A Common Stock. Proportionate adjustments were made to the Company's outstanding equity awards as well as the exercise, grant and acquisition prices of such equity awards, as applicable. Accordingly, all amounts of securities reported on this Form 4 have been adjusted to reflect the Reverse Stock Split.