SEC Form 4 · accession 0001209191-18-030037
Vivint Solar, Inc. · VSLR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
L. Chance Allred
Officer — Chief Sales Officer
Period of report
May 10, 2018
Accepted (ET)
May 14, 2018 · 6:59 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 | May 10, 2018 | M | 199,084 | $1.00 | A | 449,967 | D | |
| Common Stock | May 10, 2018 | S | 199,084 | $4.50 | D | 250,883 | D | |
| Common Stock | May 11, 2018 | M | 18,211 | $1.00 | A | 269,094 | D | |
| Common Stock | May 11, 2018 | S | 18,211 | $4.50 | D | 250,883 | D | |
| Common Stock | May 14, 2018 | M | 222,944 | $1.00 | A | 473,827 | D | |
| Common Stock | May 14, 2018 | S | 222,944 | $4.50 | D | 250,883 | 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)F2 | $1.00 | May 10, 2018 | M | 199,084 | D | — | Aug 18, 2023 | Common Stock | 199,084 | 418,563 | D |
| Stock Option (Right to Buy)F2 | $1.00 | May 11, 2018 | M | 18,211 | D | — | Aug 18, 2023 | Common Stock | 18,211 | 400,352 | D |
| Stock Option (Right to Buy)F2 | $1.00 | May 14, 2018 | M | 222,944 | D | — | Aug 18, 2023 | Common Stock | 222,944 | 177,408 | D |
Explanation of responses
- F1The sales reported by Mr. Allred were effected pursuant to a Rule 10b5-1 trading plan.
- F2One-third of this option vests annually in five equal installments beginning 11/16/13. 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.