Oded Shein - May 5, 2021 Form 4 Insider Report for SHIFT TECHNOLOGIES, INC. (SFT)

Role
Chief Financial Officer
Signature
/s/ George Arison, Attorney-in-fact for Oded Shein
Stock symbol
SFT
Transactions as of
May 5, 2021
Transactions value $
$0
Form type
4
Date filed
12/6/2021, 04:23 PM
Next filing
May 28, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SFT Class A Common Stock Award $0 +205K +2049.83% $0.00 215K May 5, 2021 Direct F1, F2, F3, F4
transaction SFT Class A Common Stock Award $0 +93.8K +43.61% $0.00 309K Dec 2, 2021 Direct F1, F4, F5

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 SFT Performance Stock Units Award $0 +68.3K $0.00 68.3K May 5, 2021 Class A Common Stock 68.3K $0.00 Direct F6
transaction SFT Performance Stock Units Award $0 +31.3K +45.74% $0.00 99.6K Dec 2, 2021 Class A Common Stock 31.3K Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share of Shift Technologies, Inc. (the "Company").
F2 25% of the RSUs vest on March 15, 2022, with the remainder vesting thereafter in twelve equal quarterly installments subject to continued employment with the Company or an affiliate of the Company.
F3 RSUs granted to the reporting person on 5/5/2021 are being reported late due to an administrative oversight. Because the RSUs are being reported in Table 1, the reporting person's Form 4s filed since 5/5/2021 underreported his ownership by 214,983 shares.
F4 The reporting person holds a portion of the shares in an account with his spouse as joint tenants with rights of survivorship.
F5 25% of the RSUs vest on March 15, 2023, with the remainder vesting thereafter in twelve equal quarterly installments subject to continued employment with the Company or an affiliate of the Company.
F6 Represents a grant of Performance Stock Units ("PSUs"). Each PSU represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share, of the Company. The PSUs vest quarterly over the two-year period commencing on March 14, 2023, subject to the achievement of the applicable pre-determined performance target for the applicable performance year and the continued employment with the Company or an affiliate of the Company (subject to certain exceptions for termination without cause or for good reason as described in the award agreement). Vested PSUs are settled during the first open trading window of the Company following each calendar quarter.
F7 Represents a grant of Performance Stock Units ("PSUs"). Each PSU represents a contingent right to receive one share of Class A common stock, par value $0.0001 per share, of the Company. The PSUs vest quarterly over the two-year period commencing on March 14, 2024, subject to the achievement of the applicable pre-determined performance target for the applicable performance year and the continued employment with the Company or an affiliate of the Company (subject to certain exceptions for termination without cause or for good reason as described in the award agreement). Vested PSUs are settled during the first open trading window of the Company following each calendar quarter.