SEC Form 4 · accession 0001209191-17-050349
Snap Inc · SNAP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Timothy Sehn
Officer — Senior VP of Engineering
Period of report
Aug 23, 2017
Accepted (ET)
Aug 25, 2017 · 9:32 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001564408
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common Stock | Aug 23, 2017 | M | 75,000 | $0.00 | A | 2,679,168 | D | |
| Class A Common Stock | Aug 23, 2017 | C | 75,000 | $0.00 | A | 2,754,168 | D | |
| Class A Common StockF2,F3 | Aug 23, 2017 | S | 150,000 | $15.0006 | D | 2,604,168 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F5 | $0.00 | Aug 23, 2017 | M | 75,000 | D | — | Sep 5, 2023 | Class A Common Stock | 75,000 | 4,125,000 | D |
| Stock Option (right to buy)F5,F6 | $0.582 | Aug 23, 2017 | M | 75,000 | D | — | Sep 5, 2023 | Class B Common Stock | 75,000 | 4,125,000 | D |
| Class B Common StockF7 | $0.00 | Aug 23, 2017 | C | 75,000 | D | — | — | Class A Common Stock | 75,000 | 0 | D |
Explanation of responses
- F1Represents shares of Class B Common Stock converted into shares of Class A Common Stock at the option of the reporting person.
- F2The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
- F3The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.00 to $15.01 per share, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F4Reflects an option exercised on August 23, 2017, which shares were subsequently sold on the same day.
- F51/10th vests 12 months from September 3, 2013, 1/60th vests each month during the second 12-month period of continuous service, 1/40th vests each month during the third 12-month period of continuous service and 1/30th vests each month during the fourth 12-month period of continuous service.
- F6Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the reporting person.
- F7The Class B Common Stock has no expiration date.