Filing Details

Accession Number:
0001104659-22-010956
Form Type:
4
Zero Holdings:
No
Publication Time:
2022-02-02 17:52:06
Reporting Period:
2022-01-31
Accepted Time:
2022-02-02 17:52:06
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1759008 Carlotz Inc. LOTZ Retail-Auto Dealers & Gasoline Stations (5500) 832456129
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1842548 Elizabeth Sanders C/O Carlotz, Inc.
611 Bainbridge Street, Suite 100
Richmond VA 23224
Chief Administrative Officer No Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Class A Common Stock Acquisiton 2022-01-31 1,377 $0.00 1,377 No 4 M Direct
Class A Common Stock Disposition 2022-02-01 408 $2.06 969 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 M Direct
No 4 S Direct
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Class A Common Stock Restricted Stock Units Disposition 2022-01-31 1,377 $0.00 1,377 $0.00
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
4,130 No 4 M Direct
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Class A Common Stock Stock Option (right to buy) $0.64 2022-08-31 10,193 10,193 Direct
Class A Common Stock Stock Option (right to buy) $0.92 2029-11-01 407,709 407,709 Direct
Class A Common Stock Stock Option (right to buy) $11.35 2031-01-21 8,014 8,014 Direct
Class A Common Stock Restricted Stock Units $0.00 2026-01-21 41,888 41,888 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2022-08-31 10,193 10,193 Direct
2029-11-01 407,709 407,709 Direct
2031-01-21 8,014 8,014 Direct
2026-01-21 41,888 41,888 Direct
Footnotes
  1. Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis. The restricted stock units vested in Class A common stock on January 31, 2022.
  2. The sale reported in the Form 4 was effected pursuant to a Rule 10b5-1 instruction solely with the intent to cover withholding taxes in connection with the settlement of restricted stock units.
  3. These options are fully vested and exercisable.
  4. These options are service options that vest based on the passage of time and the reporting person's continued service with the Company. 2,003 of these options are currently exercisable and the remaining 6,011 become exercisable in three equal annual installments beginning on January 21, 2023.
  5. These restricted stock units will vest if, prior to January 21, 2026, the closing share price of the Class A common stock exceeds the following thresholds. One-half will vest if the closing share price of the Class A common stock exceeds $12.50 for any 20 trading days within any 30 trading day period and one-half will vest if the closing share price of the Class A common stock exceeds $15.00 for any 20 trading days within any 30 trading day period.
  6. Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis.
  7. These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in Class A common stock as follows: one-fourth of these restricted stock units vested on January 31, 2022, one-fourth of these restricted stock units vest on January 21, 2023, one-fourth of these restricted stock units vest on January 21, 2024 and one-fourth of these restricted stock units vest on January 21, 2025, assuming continued employment through the applicable vesting date.