SEC Form 4 · accession 0001209191-18-011778
Snap Inc · SNAP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jerry James Hunter
Officer — Senior VP, Engineering
Period of report
Feb 16, 2018
Accepted (ET)
Feb 20, 2018 · 9:33 pm EST
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 StockF1,F2,F3,F4 | Feb 16, 2018 | S | 36,399 | $20.2515 | D | 2,071,298 | D | |
| Class A Common StockF5,F6,F3,F4 | Feb 20, 2018 | S | 61,257 | $18.858 | D | 2,010,041 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents the sale of shares to cover tax withholding obligations in connection with the settlement and release of restricted stock units ("RSUs") granted by the issuer to the reporting person. Each RSU represents a contingent right to receive one share of issuer's Class A Common Stock.
- F2The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.04 to $20.63 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.
- F3As reported on a Form 3 filed on January 10, 2018, the reporting person was granted 1,757,874 restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock. This RSU vests at the rate of 97,656 shares on each of January 24, 2018, April 24, 2018, July 24, 2018 and October 24, 2018, 146,486 shares on January 24, 2019, 146,484 shares on each of April 24, 2019, July 24, 2019 and October 24, 2019, 195,314 shares on each of January 24, 2020 and October 24, 2020, and 195,312 shares on each of April 24, 2020 and July 24, 2020.
- F4Includes 349,883 RSUs granted to the reporting person, of which 10% will vest once the reporting person completes 12 months of continuous service from January 15, 2018; 20% will vest in equal quarterly installments during the second 12-month period of the reporting person's continuous service; 30% will vest in equal quarterly installments during the third 12-month period of the reporting person's continuous service; and 40% will vest in equal quarterly installments during the fourth 12-month period of the reporting person's continuous service.
- F5The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
- F6The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.65 to $18.99 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.