SEC Form 4 · accession 0001127602-15-019887
Vivint Solar, Inc. · VSLR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Shawn J. Lindquist
Officer — See Remarks
Period of report
Jun 2, 2015
Accepted (ET)
Jun 4, 2015 · 6:54 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001607716
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jun 2, 2015 | M | 55,148 | $1.30 | A | 55,148 | D | |
| Common StockF1,F2 | Jun 2, 2015 | S | 55,148 | $13.9291 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F3 | $1.30 | Jun 2, 2015 | M | 55,148 | D | — | Jan 23, 2024 | Common Stock | 55,148 | 606,617 | D |
Explanation of responses
- F1This transaction was executed in multiple trades at prices ranging from $13.70 to $14.15 The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F2The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 13, 2015.
- F3One-third of this option vests over a five-year period with 20% of the shares vesting one year following the vesting start date and the remaining shares vesting in equal quarterly installments. The remaining two-thirds of the outstanding options vest as follows: (1) one-half will vest if and upon the date that is the sooner of (a) 313 Acquisition LLC receives a return on its invested capital at a pre-established threshold or (b) the Company's aggregate equity market capitalization is equal to or greater than $1 billion on a date no sooner than 240 days after the commencement of this offering, and (2) one-half of the shares vest if and upon the date that 313 Acquisition LLC receives an additional return on its investment at a second pre-established threshold.
Remarks
Chief Legal Officer, Executive Vice President and Secretary