Form 4 for MVST Microvast Holdings, Inc.
Accepted 2021-07-26 00:00:00 ET · period of report 2021-07-23 · accession 0000947871-21-000812 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2021-07-26 | 2021-07-23 | MVST | Mattis Wenjuan | CTO (CTO) | A - Grant | — | +198.4K | 198.4K | New | — |
| DM | 2021-07-26 | 2021-07-23 | MVST | Mattis Wenjuan | CTO (CTO) | A - Grant | — | +2.37M | 143.0K | New | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Class A Common Stock | 2021-07-23 | A | A | 198,415 | — | 198,415 | D | — | — | (F1) Received in exchange for 1,238 shares of common stock of Microvast, Inc. ("Microvast") in connection with the closing of the transactions contemplated by the Agreement and Plan of Merger by and between Tuscan Holdings Corp. ("Tuscan Holdings"), TSCN Merger Sub Inc. and Microvast, dated February 1, 2021 (the "Merger Agreement"), including the renaming of Tuscan Holdings to the Issuer (the "Merger"). On the effective date of the Merger, the closing price of Issuer's Class A Common Stock was $10.00. |
| 2 | Derivative | Capped Restricted Stock Unit | 2021-07-23 | A | A | 429,123 | — | 429,123 | D | $6.28 · — to — | 429,123 Class A Common Stock | (F7) Received in the Merger in exchange for the right to receive 2,677 shares of common stock of Microvast for $1005.85 per share. (F6) The Capped Restricted Stock Units convert into one share of Class A Common Stock on vesting and are subject to the same conditions and vesting schedule as stock options. |
| 3 | Derivative | Employee Stock Option (right to buy) | 2021-07-23 | A | A | 961,800 | — | 961,800 | D | $6.28 · — to 2027-07-23 | 961,800 Class A Common Stock | (F4) Received in the Merger in exchange for an employee stock option to acquire 6,000 shares of common stock of Microvast for $1,005.85 per share. (F2) The shares underlying this option vest one-third on each of the first, second and third anniversaries of the Merger. |
| 4 | Derivative | Employee Stock Option (right to buy) | 2021-07-23 | A | A | 818,812 | — | 818,812 | D | $6.28 · — to 2030-07-27 | 818,812 Class A Common Stock | (F5) Received in the Merger in exchange for an employee stock option to acquire 5,108 shares of common stock of Microvast for $1,005.85 per share. (F2) The shares underlying this option vest one-third on each of the first, second and third anniversaries of the Merger. |
| 5 | Derivative | Earnout Rights | 2021-07-23 | A | A | 20,588 | — | 20,588 | D | — · — to — | 20,588 Class A Common Stock | (F8) Pursuant to the earnout provisions in the Merger Agreement, the Reporting Person is entitled to receive shares of Class A Common Stock if the daily volume weighted average price of the common stock is greater than or equal to $18.00 for any 20 trading days within a 30 trading day period (or a change of control occurs that results in the holders of common stock receiving a per share price equal to or in excess of $18.00), during the period commencing on the closing date of the Merger and ending on the third anniversary of the closing date of the Merger. |
| 6 | Derivative | Employee Stock Option (right to buy) | 2021-07-23 | A | A | 142,987 | — | 142,987 | D | $4.37 · — to 2026-01-07 | 142,987 Class A Common Stock | (F3) Received in the Merger in exchange for an employee stock option to acquire 892 shares of common stock of Microvast for $700 per share. (F2) The shares underlying this option vest one-third on each of the first, second and third anniversaries of the Merger. |