Ayman Moussa - Jun 30, 2023 Form 4 Insider Report for SHIFT TECHNOLOGIES, INC. (SFT)

Role
Chief Executive Officer, Director
Signature
/s/ Scott Hodgdon, Attorney-in-fact for Ayman Moussa
Stock symbol
SFT
Transactions as of
Jun 30, 2023
Transactions value $
$0
Form type
4
Date filed
7/5/2023, 07:43 PM
Previous filing
Jun 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SFT Class A Common Stock Award $0 +950K $0.00 950K Jun 30, 2023 Direct F1, 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 SFT Performance Stock Units Award $0 +950K $0.00 950K Jun 30, 2023 Class A Common Stock 950K Direct F3
* 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 237,500 of the RSUs vest on June 30, 2024. The remaining 712,500 RSUs vest in 12 equal quarterly tranches thereafter. Vested RSU awards are settled during the Company's next open trading window following each calendar quarter. Vesting is subject to continued employment with the Company or an affiliate of the Company.
F3 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 December 31, 2023, subject to the achievement of the applicable pre-determined performance target for the applicable performance period 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.