Form 4 for FFAI FARADAY FUTURE INTELLIGENT ELECTRIC INC.
Accepted 2021-07-23 00:00:00 ET · period of report 2021-07-21 · accession 0001140361-21-025491 · 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 | 2021-07-23 | 2021-07-21 | FFAI | Rao Hong | VP, I.A.I | A - Grant | — | +221.7K | 221.7K | New | — |
| DM | 2021-07-23 | 2021-07-21 | FFAI | Rao Hong | VP, I.A.I | A - Grant | — | +585.6K | 42.4K | 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 | 2021-07-21 | A | A | 221,681 | — | 221,681 | D | — | — | (F12) Includes 12,048 shares of the Issuer's Class A common stock (the "Earnout Shares") that the reporting person has the right to receive if the trading price of the Issuer's Class A common stock reaches certain thresholds ("Price Thresholds"). The reporting person's right to receive the Earnout Shares became fixed and irrevocable at Closing. Any Earnout Shares that have not vested by the fifth anniversary of the closing of the Issuer's initial public offering will be forfeited. (F13) The Earnout Shares subject to the Price Thresholds vest in in equal halves if the trading price of Common Stock is greater than or equal to $13.50 and $15.50, respectively, for any 20 trading days within any 30-trading day period. (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." |
| 2 | Derivative | Stock Option (Right to Buy) | 2021-07-21 | A | A | 59,345 | — | 59,345 | D | $2.41 · — to 2030-12-16 | 59,345 Class A Common Stock | (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." (F11) These stock options vest in a series of 48 equal monthly installments starting on December 1, 2022, subject to the reporting person's continued employment through the applicable vesting date. |
| 3 | Derivative | Stock Option (Right to Buy) | 2021-07-21 | A | A | 29,672 | — | 29,672 | D | $2.41 · — to 2030-12-16 | 29,672 Class A Common Stock | (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." (F10) These stock options vest 25% on December 1, 2022, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date. |
| 4 | Derivative | Stock Option (Right to Buy) | 2021-07-21 | A | A | 29,672 | — | 29,672 | D | $2.41 · — to 2030-12-16 | 29,672 Class A Common Stock | (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." (F9) These stock options vest 25% on December 1, 2021, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date. |
| 5 | Derivative | Stock Option (Right to Buy) | 2021-07-21 | A | A | 29,672 | — | 29,672 | D | $2.41 · — to 2030-12-16 | 29,672 Class A Common Stock | (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." (F8) These stock options vest 25% on December 1, 2020, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date. |
| 6 | Derivative | Stock Option (Right to Buy) | 2021-07-21 | A | A | 84,780 | — | 84,780 | D | $2.55 · — to 2028-02-01 | 84,780 Class A Common Stock | (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." (F2) These stock options vested 25% on June 1, 2016, then in a series of 36 equal monthly installments thereafter. |
| 7 | Derivative | Stock Option (Right to Buy) | 2021-07-21 | A | A | 3,431 | — | 3,431 | D | $2.41 · 2020-03-16 to 2030-07-26 | 3,431 Class A Common Stock | (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." |
| 8 | Derivative | Stock Option (Right to Buy) | 2021-07-21 | A | A | 42,390 | — | 42,390 | D | $2.55 · — to 2028-02-01 | 42,390 Class A Common Stock | (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." (F4) These stock options vested in a series of 48 equal monthly installments starting on June 1, 2017. |
| 9 | Derivative | Stock Option (Right to Buy) | 2021-07-21 | A | A | 42,390 | — | 42,390 | D | $2.55 · — to 2028-02-01 | 42,390 Class A Common Stock | (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." (F5) These stock options vest in a series of 48 equal monthly installments starting on June 1, 2018, subject to the reporting person's continued employment through the applicable vesting date. |
| 10 | Derivative | Stock Option (Right to Buy) | 2021-07-21 | A | A | 58,766 | — | 58,766 | D | $2.55 · — to 2029-05-30 | 58,766 Class A Common Stock | (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." (F6) These stock options vest 25% on March 15, 2020, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date. |
| 11 | Derivative | Stock Option (Right to Buy) | 2021-07-21 | A | A | 163,081 | — | 163,081 | D | $2.41 · — to 2030-07-26 | 163,081 Class A Common Stock | (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." (F7) These stock options vest 25% on March 16, 2021, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date. |
| 12 | Derivative | Stock Option (Right to Buy) | 2021-07-21 | A | A | 42,390 | — | 42,390 | D | $2.55 · — to 2028-02-01 | 42,390 Class A Common Stock | (F1) Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc." (F3) These stock options vested in a series of 48 equal monthly installments starting on June 1, 2016. |