Statement of Changes in Beneficial Ownership (4)
13 December 2022 - 08:10AM
Edgar (US Regulatory)
FORM 4
[X] Check this box if no longer subject to
Section 16. Form 4 or Form 5 obligations may continue. See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL
OWNERSHIP OF SECURITIES
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OMB
APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5 |
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Filed pursuant to Section 16(a) of the
Securities Exchange Act of 1934 or Section 30(h) of the Investment
Company Act of 1940
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1. Name
and Address of Reporting Person * TRP Capital
Partners, LP |
2. Issuer Name and Ticker or Trading
Symbol CarLotz, Inc. [ LOTZ ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)_____
Director __X__
10% Owner
_____ Officer (give title
below) _____ Other
(specify below)
|
(Last)
(First)
(Middle)
380 N. OLD WOODWARD AVE.,, SUITE 205 |
3. Date of Earliest Transaction (MM/DD/YYYY)
12/9/2022
|
(Street)
BIRMINGHAM, MI 48009
(City)
(State)
(Zip)
|
4. If Amendment, Date Original Filed
(MM/DD/YYYY)
|
6. Individual or Joint/Group Filing
(Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person |
Table I - Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
|
1.Title of Security
(Instr. 3) |
2. Trans. Date |
2A. Deemed Execution Date, if any |
3. Trans. Code
(Instr. 8) |
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) |
5. Amount of Securities Beneficially Owned Following
Reported Transaction(s)
(Instr. 3 and 4) |
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) |
7. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
Amount |
(A) or (D) |
Price |
Class A Common Stock |
12/9/2022 |
|
M(1)(2)(3) |
|
435330 |
A |
(1) |
495428 |
I |
See Footnote (2)(3) |
Class A Common Stock |
12/9/2022 |
|
D(4) |
|
495428 |
D |
(4)(5) |
0 |
I |
See Footnote (4)(5) |
Class A Common Stock |
12/9/2022 |
|
D(5) |
|
21739678 |
D |
(5) |
0 |
D |
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Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible
securities)
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1. Title of Derivate Security
(Instr. 3) |
2. Conversion or Exercise Price of Derivative
Security |
3. Trans. Date |
3A. Deemed Execution Date, if any |
4. Trans. Code
(Instr. 8) |
5. Number of Derivative Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5) |
6. Date Exercisable and Expiration Date |
7. Title and Amount of Securities Underlying
Derivative Security
(Instr. 3 and 4) |
8. Price of Derivative Security
(Instr. 5) |
9. Number of derivative Securities Beneficially
Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct
(D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
(A) |
(D) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Restricted Stock Units |
(2) |
12/9/2022 |
|
M |
|
|
435330 |
(2) |
(2) |
Class A Common Stock |
435330 |
(2) |
0 |
I |
See Footnote (2) |
Explanation of
Responses: |
(1) |
On December 9, 2022,
pursuant to the Agreement and Plan of Merger, dated August 9, 2022
(the "Merger Agreement"), among Shift Technologies, Inc. ("Shift"),
Shift Remarketing Operations, Inc. (Merger Sub") and CarLotz, Inc.
(the "Issuer"), Merger Sub merged with and into the Issuer with the
Issuer continuing as the surviving corporation and as a wholly
owned subsidiary of Shift (the "Merger"). |
(2) |
Pursuant to the Merger
Agreement, at the effective time of the Merger, each restricted
stock unit became vested, and was cancelled and converted into the
right to receive 0.705241 shares of Shift common stock. |
(3) |
These Restricted Stock Units
were granted pursuant to the Issuer's 2020 Incentive Award Plan,
consisting of 217,665 Restricted Stock Units granted to David R.
Mitchell and 217,665 Restricted Stock Units granted to Steven G.
Carrel, each a Managing Director of the Reporting Person, in their
capacity as directors of the Issuer. Each of David R. Mitchell and
Steven G. Carrel has an understanding with the Reporting Person
pursuant to which he holds such Restricted Stock Units for the
benefit of the Reporting Person. |
(4) |
These shares consist of
247,714 shares held directly by David R. Mitchell and 247,714
shares held directly by Steven G. Carrel, each a Managing Director
of the Reporting Person, in their capacity as directors of the
Issuer. Each of David R. Mitchell and Steven G. Carrel has an
understanding with the Reporting Person pursuant to which he holds
such shares for the benefit of the Reporting Person. |
(5) |
Pursuant to the Merger
Agreement, at the effective time of the Merger, each share of
Issuer Class A common stock issued and outstanding immediately
prior to the effective time of the Merger was converted into
0.705241 shares of Shift common stock. |
Reporting
Owners
|
Reporting Owner Name / Address |
Relationships
|
Director |
10% Owner |
Officer |
Other |
TRP Capital Partners, LP
380 N. OLD WOODWARD AVE.,
SUITE 205
BIRMINGHAM, MI 48009 |
|
X |
|
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Signatures
|
/s/ David R. Mitchell, Managing
Director |
|
12/12/2022 |
**Signature
of Reporting Person |
Date |
Reminder: Report on a separate line for each class
of securities beneficially owned directly or
indirectly. |
* |
If the form is filed by more than one
reporting person, see Instruction 4(b)(v). |
** |
Intentional misstatements or omissions
of facts constitute Federal Criminal Violations. See 18
U.S.C. 1001 and 15 U.S.C. 78ff(a). |
Note: |
File three copies of this Form, one of
which must be manually signed. If space is insufficient, see
Instruction 6 for procedure. |
Persons who respond to the collection of information
contained in this form are not required to respond unless the form
displays a currently valid OMB control number. |
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