Tobias Russell - Oct 13, 2021 Form 4 Insider Report for SHIFT TECHNOLOGIES, INC. (SFT)

Role
Co-Chief Executive Officer, Director
Signature
/s/ George Arison, attorney-in-fact for Tobias Russell
Stock symbol
SFT
Transactions as of
Oct 13, 2021
Transactions value $
-$549,720
Form type
4
Date filed
10/15/2021, 11:46 AM
Previous filing
Jun 1, 2021
Next filing
Feb 28, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SFT Class A Common Stock Gift $0 +53K +1.73% $0.00 3.12M Oct 13, 2021 Direct F1
transaction SFT Class A Common Stock Other -$550K -55K -1.76% $10.00* 3.06M Oct 13, 2021 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares were received as a bona fide gift. The reporting person did not pay compensation for the receipt of the shares.
F2 Forfeiture of shares of company common stock held in escrow in connection with the closing of the merger (the "Merger") of Shift Platform, Inc., a Delaware corporation (formerly known as Shift Technologies, Inc.), with a wholly-owned subsidiary of the company, and returned to the company due to the reported closing sale price of the company's common stock not exceeding $12.00 per share for 20 out of any 30 consecutive trading days during the first 12 months following October 13, 2020.
F3 The merger agreement entered into in connection with the Merger placed a value on the company's common stock of $10 a share.