Sec Form 4 Filing - Oliver Jennifer @ ContextLogic Inc. - 2021-08-15

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Oliver Jennifer
2. Issuer Name and Ticker or Trading Symbol
ContextLogic Inc. [ WISH]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Interim Co-CFO
(Last) (First) (Middle)
ONE SANSOME STREET 40TH FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
08/15/2021
(Street)
SAN FRANCISCO, CA94104
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction 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 08/15/2021 C( 1 ) 1,194 A $ 0 16,980 D
Class A Common Stock 08/15/2021 M 2,211 A $ 0 19,191 D
Class A Common Stock 08/16/2021 S( 2 ) 1,288 D $ 6.919 ( 3 ) 17,903 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 Unit $ 0 08/15/2021 M 300 ( 4 )( 5 ) 09/27/2025 Class B Common Stock 300 $ 0 7,280 D
Class B Common Stock ( 6 ) ( 7 ) 08/15/2021 ( 6 )( 7 ) M 300 ( 6 )( 7 ) ( 6 )( 7 ) Class A Common Stock 300 $ 0 300 D
Restricted Stock Unit $ 0 08/15/2021 M 310 ( 4 )( 7 ) 02/05/2026 Class B Common Stock 310 $ 0 5,270 D
Class B Common Stock ( 6 ) ( 7 ) 08/15/2021 ( 6 )( 7 ) M 310 ( 6 )( 7 ) ( 6 )( 7 ) Class A Common Stock 310 $ 0 610 D
Restricted Stock Unit $ 0 08/15/2021 M 31 ( 4 )( 8 ) 05/02/2026 Class B Common Stock 31 $ 0 632 D
Class B Common Stock ( 6 ) ( 7 ) 08/15/2021 ( 6 )( 7 ) M 31 ( 6 )( 7 ) ( 6 )( 7 ) Class A Common Stock 31 $ 0 641 D
Restricted Stock Unit $ 0 08/15/2021 M 553 ( 4 )( 9 ) 09/28/2027 Class B Common Stock 553 $ 0 20,461 D
Class B Common Stock ( 6 ) ( 7 ) 08/15/2021 ( 6 )( 7 ) M 553 ( 4 ) ( 6 )( 7 ) Class A Common Stock 553 $ 0 1,194 D
Class B Common Stock ( 6 ) ( 7 ) 08/15/2021 C 1,194 ( 6 )( 7 ) ( 6 )( 7 ) Class A Common Stock 1,194 $ 0 0 D
Restricted Stock Unit $ 0 08/15/2021 M 2,211 ( 4 )( 10 ) ( 10 ) Class A Common Stock 2,211 $ 0 33,166 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Oliver Jennifer
ONE SANSOME STREET 40TH FLOOR
SAN FRANCISCO, CA94104
Interim Co-CFO
Signatures
Renee Jackson, Attorney-in-Fact 08/19/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Represents the conversion of Class B Common Stock, issued upon settlement of vested Restricted Stock Units ("RSUs"), into Class A Common Stock held of record by the Reporting Person
( 2 )The sale reported on this Form 4 represents shares sold by the reporting person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. The sale is mandated by the Issuer's election to require the satisfaction of tax withholdings obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the reporting person.
( 3 )The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices with the range of $6.7510 to $6.9301, inclusive. The reporting person undertakes to provide, upon written request, full information regarding the number of shares sold at each separate price with the range set forth in this footnote.
( 4 )This reported transaction represents the settlement of RSUs vested as of August 15, 2021.
( 5 )Each RSU represents a contingent right to receive one share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 20% of the RSUs vested on August 20, 2019, with 1/60th of the RSUs vesting monthly thereafter for a period of 4 years.
( 6 )All shares of Class B Common Stock will automatically convert, on a one-for-one basis, into shares of Class A Common Stock on the earliest of (i) any transfer of the Class B Common Stock by the holder, whether or not for value, subject to certain exceptions, (ii) the 7-year anniversary of the closing sale of the issuer's initial public offering, (iii) the date on which the number of outstanding shares of Class B Common Stock represents less than 5% of the aggregate combined number of outstanding shares of Class A Common Stock and Class B Common Stock, (iv) the date specified by a vote of the holders of a majority of the then outstanding shares of Class B Common Stock, or (v) a date that is between 90 and 270 days, as determined by the board of directors, after the death or permanent incapacity of the issuer's founder, CEO, and Chairperson.
( 7 )Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock. Each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon any transfer, whether or not for value, except certain permitted transfers.
( 8 )Each RSU represents a contingent right to receive one share of Issuer's Common B Stock. Subject to the reporting person's continued service, 1/48th of the RSUs vest monthly beginning on May 1, 2019 for a period of 4 years.
( 9 )Each RSU represents a contingent right to receive on share of Issuer's Class B Common Stock. Subject to the reporting person's continued service, 25% of the RSUs vested on January 1, 2020, with 1/48th of the RSUs vesting monthly thereafter for a period of 3 years.
( 10 )Each RSU represents a contingent right to receive one share of Issuer's Class A Common Stock. Subject to the reporting person's continuous service, 6.25% of the RSUs will vest on a quarterly basis beginning on August 15, 2021 (with all quarterly vesting events occurring on a "Company Vesting Date" of February 15, May 15, August 15, or November 15). Vested RSUs will settle on or following the vesting date, but in any event within 60 days following the vesting date (unless the Reporting Person and the Company have agreed in writing to a later settlement date pursuant to procedures the Company may prescribe at its discretion).

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).

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