SEC Form 4 · accession 0001209191-17-059341
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
Nov 2, 2017
Accepted (ET)
Nov 3, 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 | Nov 2, 2017 | M | 200,000 | $0.00 | A | 2,669,279 | D | |
| Class A Common Stock | Nov 2, 2017 | C | 200,000 | $0.00 | A | 2,869,279 | D | |
| Class A Common StockF2,F3 | Nov 2, 2017 | S | 400,000 | $14.5899 | D | 2,469,279 | 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 | Nov 2, 2017 | M | 200,000 | D | — | Sep 5, 2023 | Class A Common Stock | 200,000 | 3,525,000 | D |
| Stock Option (right to buy)F5,F6 | $0.582 | Nov 2, 2017 | M | 200,000 | D | — | Sep 5, 2023 | Class B Common Stock | 200,000 | 3,525,000 | D |
| Class B Common StockF7 | $0.00 | Nov 2, 2017 | C | 200,000 | D | — | — | Class A Common Stock | 200,000 | 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 $14.41 to $14.86 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 November 2, 2017, which shares were subsequently sold on the same day.
- F5Fully vested.
- 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.