ContextLogic (NASDAQ: LOGC) CFO & COO awarded 50,000 RSUs vesting over 5 years
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
ContextLogic Holdings Inc. reported initial equity holdings for its CFO & COO, Stewart Scott Matthew, consisting of restricted stock units (RSUs) tied to the company’s common stock. The RSUs cover 50,000 underlying shares and carry an exercise price of $0.0000 per share.
According to the disclosure, these RSUs vest in five equal annual installments of 20%, starting on the first anniversary of the effective date, as long as he continues in service. Each vested portion will convert into common shares and be settled on or shortly after the applicable vesting date.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Stewart Scott Matthew
Role
CFO & COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Unit | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 50,000 shares (Direct, null)
Footnotes (1)
- The Reporting Person was granted restricted stock units ("RSUs") which represent a contingent right to receive one share of the Issuer's Common Stock, $0.0001 par value, for each RSU. Subject to the Reporting Person's continued service, the RSU's will vest in equal installments of 20% of the total RSUs subject to the award on each of the first through fifth anniversaries of the effective date. Vested RSUs will settle on or following the vesting date, but in any event, within 60 days following the vesting date (unless the Reporting Person and the Issuer have agreed in writing to a later settlement date pursuant to procedures the Issuer may prescribe at its discretion).
Key Figures
RSUs underlying shares: 50,000 shares
Vesting rate: 20% per year
Vesting term: 5 years
+2 more
5 metrics
RSUs underlying shares
50,000 shares
Underlying common stock represented by RSUs
Vesting rate
20% per year
Annual vesting installments over five years
Vesting term
5 years
First through fifth anniversaries of effective date
Exercise price
$0.0000 per share
RSU exercise/settlement price
Common stock par value
$0.0001 per share
Par value of issuer’s common stock tied to RSUs
Key Terms
Restricted Stock Unit, contingent right, par value, vest, +1 more
5 terms
Restricted Stock Unit financial
"The Reporting Person was granted restricted stock units ("RSUs") which represent a contingent right to receive one share"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
contingent right financial
"RSUs which represent a contingent right to receive one share of the Issuer's Common Stock"
par value financial
"one share of the Issuer's Common Stock, $0.0001 par value, for each RSU"
Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.
vest financial
"the RSU's will vest in equal installments of 20% of the total RSUs"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
settle financial
"Vested RSUs will settle on or following the vesting date, but in any event, within 60 days"
FAQ
What insider position did LOGC CFO Stewart Scott Matthew report on this Form 3?
He reported holding restricted stock units representing 50,000 underlying shares of ContextLogic Holdings common stock. These RSUs are equity-based compensation and give him a contingent right to receive one common share for each vested unit, subject to specific vesting conditions.
What is the vesting schedule for Stewart Scott Matthew’s LOGC RSUs?
The RSUs vest in five equal annual installments of 20% of the total award. Vesting occurs on each of the first through fifth anniversaries of the effective date, provided he continues serving the company throughout the vesting period.
When will the vested LOGC RSUs settle into common stock?
Each vested portion of the RSUs will settle on or following its vesting date. The settlement will occur within 60 days after vesting unless the executive and the company agree in writing to a later settlement date under company-prescribed procedures.