Form 4/A for FFAI FARADAY FUTURE INTELLIGENT ELECTRIC INC.
Accepted 2023-03-21 00:00:00 ET · period of report 2021-07-21 · accession 0001628280-23-008842 · 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DMA | 2023-03-21 | 2021-07-21 | FFAI | Aydt Matthias | SVP, Bus. Dev, Prod. Def, Dir | A - Grant | $0.00 | +55.9K | 35.6K | New | $0 |
| DA | 2023-03-21 | 2021-07-21 | FFAI | Aydt Matthias | SVP, Bus. Dev, Prod. Def, Dir | A - Grant | — | +4,350 | 4,350 | 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 | 20,333 | $0.00 | 55,893 | D | — | — | (F2) These shares of restricted stock were granted to the Reporting Person upon Closing and vested 90 days after Closing. |
| 2 | Common | Class A Common Stock | 2021-07-21 | A | A | 35,560 | — | 35,560 | D | — | — | (F1) 1.Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. (the "Issuer"), 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"), 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"). On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer was renamed "Faraday Future Intelligent Electric Inc." |
| 3 | Derivative | Earnout Shares | 2021-07-21 | A | A | 4,350 | — | 4,350 | D | — · — to — | 4,350 Class A Common Stock | (F3) Pursuant to the terms of the Merger Agreement, the Reporting Person, as an FF shareholder, received these Earnout Shares, each one of which represents the contingent right to acquire one share of the Issuer's Class A common stock if the trading price of the Issuer's Class A common stock reaches certain thresholds. Specifically, the Earnout Shares vest in equal halves if the trading price of Class A 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. 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 will be forfeited. |