SEC Form 4 · accession 0001209191-18-031554
Snap Inc · SNAP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lara Sweet
Officer — VP, Chief Accounting Officer
Period of report
May 16, 2018
Accepted (ET)
May 18, 2018 · 6:11 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 StockF1,F2,F3,F4 | May 16, 2018 | S | 823 | $10.63 | D | 630,626 | 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.
- F2As reported on a Form 3 filed on November 17, 2017, the reporting person was granted 498,048 RSUs. This RSU vests at the rate of 29,296 shares on each of December 15, 2017 and June 27, 2018, 29,298 shares on March 27, 2018, 43,946 shares on each of September 27, 2018, December 15, 2018, and June 27, 2019, 43,944 shares on March 27, 2019, and 58,594 shares on each of September 27, 2019, December 15, 2019, March 27, 2020, and June 27, 2020.
- F3As reported on a Form 3 filed on November 17, 2017, the reporting person was granted 21,433 RSUs, of which 10% vested once the reporting person completed 12 months of continuous service from February 15, 2017; 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.
- F4As reported on a Form 3 filed on November 17, 2017, the reporting person was granted 11,601 RSUs, of which 10% vested once the reporting person completed 12 months of continuous service from May 15, 2017; 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.