SEC Form 4 · accession 0001213900-19-001665
Lovesac Co · LOVE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Albert Jack Krause
Officer — President and COO · Director
Period of report
Jan 31, 2019
Accepted (ET)
Feb 4, 2019 · 9:50 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001701758
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $0.00001 par valueF1 | Jan 31, 2019 | M | 13,125 | $0.00 | A | 53,052 | D | |
| Common Stock, $0.00001 par valueF2 | Jan 31, 2019 | F | 4,273 | $23.32 | D | 48,779 | D | |
| Common Stock, $0.00001 par valueF1 | Jan 31, 2019 | M | 5,904 | $0.00 | A | 54,683 | D | |
| Common Stock, $0.00001 par valueF2 | Jan 31, 2019 | F | 1,850 | $23.32 | D | 52,833 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3 | $0.00 | Jan 31, 2019 | M | 13,125 | D | — | — | Common Stock | 13,125 | 65,625 | D |
| Restricted Stock UnitsF4 | $0.00 | Jan 31, 2019 | M | 5,904 | D | — | — | Common Stock | 5,904 | 29,520 | D |
Explanation of responses
- F1Each restricted stock unit (RSU) represente the contingent right to receive, upon vesting of the RSU, on share of the Issuer's common stock.
- F2Represents the number of shares withhled by the Issuer to cover tax withholding obligations in connection with the vesting of RSUs.
- F3As previously reported, on October 26, 2017 the reporting person was granted 105,000 RSUs of which 50% are time vesting and 50% are performance based. The time vesting restricted stock units vested 25% on January 31, 2018 and January 31, 2019, and vest 25% on each of January 31, 2020 and 2021. The 39,375 remaining performance vesting units vest 25% annually upon the achievement of certain benchmarks.
- F4As previously reported, on May 10, 2018 the reporting person was granted 47,232 RSUs of which 50% are time vesting and 50% are performance based. The time vesting restricted stock units vested 25% at the closing of the issuer's IPO, and vest 25% on January 31, 2019, 2020 and 2021. The performance vesting units vest 25% annually upon the achievement of certain benchmarks.