Statement of Changes in Beneficial Ownership (4)
March 02 2021 - 04:19PM
Edgar (US Regulatory)
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 OF SECURITIES
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APPROVAL
OMB Number: 3235-0287
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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 * LEDECKY JONATHAN
J |
2. Issuer Name and Ticker or Trading
Symbol XL Fleet Corp. [ XL ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)__X__
Director _____
10% Owner
_____ Officer (give title
below) _____ Other
(specify below)
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(Last)
(First)
(Middle)
C/O XL FLEET CORP., 145 NEWTON STREET |
3. Date of Earliest Transaction (MM/DD/YYYY)
2/26/2021
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(Street)
BOSTON, MA 02135
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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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 |
Common Stock (1) |
2/26/2021 |
|
A |
|
2205 |
A |
$0 |
2205 |
D |
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Common Stock |
|
|
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|
|
5500000 |
I |
By Pivotal Investment Holdings II
LLC (2) |
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible
securities)
|
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 |
Stock Option (right to buy) |
$14.17 |
2/26/2021 |
|
A |
|
3567 |
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(3) |
2/26/2031 |
Common Stock |
3567 |
$0 |
3567 |
D |
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Explanation of
Responses: |
(1) |
The securities awarded are
in the form of restricted stock units issued pursuant to the
Issuer's 2020 Equity Incentive Plan. Each restricted stock unit
represents a contingent right to receive one share of the Issuer's
common stock. Subject to the reporting person's continued service
through the applicable vesting date, the restricted stock units
shall become fully vested on the first anniversary of December 21,
2020. |
(2) |
Includes 5,500,000 shares
("Sponsor Shares") owned directly by Pivotal Investment Holdings II
LLC, a Delaware limited liability company and the sponsor of the
Issuer (the "Sponsor"), of which Ironbound Partners Fund, LLC, an
affiliate of Mr. Ledecky, is a managing member. Notwithstanding
their dispositive and voting control over such Sponsor Shares, each
of Mr. Ledecky and Ironbound Partners Fund, LLC disclaim beneficial
ownership of the securities held by the Sponsor, except to the
extent of his or its pecuniary interest therein. |
(3) |
The shares underlying this
option shall become fully vested on the first anniversary of
December 21, 2020, subject to the reporting person's continued
service through the applicable vesting date. |
Reporting
Owners
|
Reporting Owner Name / Address |
Relationships
|
Director |
10% Owner |
Officer |
Other |
LEDECKY JONATHAN J
C/O XL FLEET CORP.
145 NEWTON STREET
BOSTON, MA 02135 |
X |
|
|
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Signatures
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/s/ Jonathan Ledecky |
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3/2/2021 |
**Signature of Reporting
Person |
Date |