Form 4 for MVST Microvast Holdings, Inc.

Accepted 2021-07-26 00:00:00 ET · period of report 2021-07-23 · accession 0000947871-21-000813 · 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	Zheng Yanzhuan	CFO, Dir	A - Grant	—	+313.0K	313.0K	New	—
DM	2021-07-26	2021-07-23	MVST	Zheng Yanzhuan	CFO, Dir	A - Grant	—	+4.02M	2.86M	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	313,009	—	313,009	D	—	—	(F1) Received in exchange for 1,953 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	Earnout Rights	2021-07-23	A	A	32,478	—	32,478	D	— · — to —	32,478 Class A Common Stock	(F6) 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.
3	Derivative	Employee Stock Option (right to buy)	2021-07-23	A	A	1,122,100	—	1,122,100	D	$6.28 · — to 2030-07-27	1,122,100 Class A Common Stock	(F3) Received in the Merger in exchange for an employee stock option to acquire 7,000 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	Capped Restricted Stock Unit	2021-07-23	A	A	2,860,713	—	2,860,713	D	$6.28 · — to —	2,860,713 Class A Common Stock	(F5) Received in the Merger in exchange for the right to receive 17,846 shares of common stock of Microvast for $1005.85 per share. (F4) 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.