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
                                                                                  
 OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Bor Michael W		 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)

C/O WILLIAMS MULLEN, P.C., 200 SOUTH 10TH STREET, SUITE 1600		 3. Date of Earliest Transaction (MM/DD/YYYY)

3/24/2022
(Street)

RICHMOND, VA 23219
(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 3/24/2022  M  22026 A$0 (1)8936329 D  
Class A Common Stock 3/24/2022  S(2)  8371 D$1.603 8927958 D  
Class A Common Stock 5/10/2022  S  180465 D$0.77 (3)8747493 D  
Class A Common Stock 5/11/2022  S  125000 D$0.68 (4)8622493 D  
Class A Common Stock         952593 I Held by Bor Family Trust 
Class A Common Stock         352593 I Held by Bor Grantor Retained Annuity Trust 

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 Security3. Trans. Date3A. Deemed Execution Date, if any4. 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 Date7. 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Earnout Rights  (5)           (5)1/21/2026 Class A Common Stock 897341  897341 D  
Stock Option (right to buy) $0.64            (6)6/16/2022 Class A Common Stock 254818  254818 D  
Stock Option (right to buy) $0.92            (7)4/23/2028 Class A Common Stock 613480  613480 D  
Stock Option (right to buy) $0.92            (7)2/4/2030 Class A Common Stock 509637  509637 D  
Stock Option (right to buy) $11.35            (6)6/16/2022 Class A Common Stock 64108  64108 D  
Earnout Rights  (5)           (5)1/21/2026 Class A Common Stock 105064  105064 I Held by Bor Family Trust 
Earnout Rights  (5)           (5)1/21/2026 Class A Common Stock 105064  105064 I Held by Bor Grantor Retained Annuity Trust 
Restricted Stock Units  (8)3/24/2022  M     22026   (9) (9)Class A Common Stock 22026 $0 0 D  
Explanation of Responses:
(1) Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis. The restricted stock units vested in Class A common stock on March 16, 2022.
(2) The sale reported in the Form 4 was effected pursuant to a Rule 10b5-1 instruction solely with the intent to cover withholding taxes in connection with the settlement of restricted stock units.
(3) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.70 to $0.81, inclusive. The reporting person undertakes to provide to CarLotz, Inc., any security holder of CarLotz, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (3) and (4) to this Form 4.
(4) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.61 to $0.76, inclusive.
(5) These earnout rights will vest if, prior to January 21, 2026, the closing share price of the Class A common stock exceeds the following thresholds. One-half will be issued if the closing share price of the Class A common stock exceeds $12.50 for any 20 trading days within any 30 trading day period and one-half will be issued if the closing share price of the Class A common stock exceeds $15.00 for any 20 trading days within any 30 trading day period.
(6) Pursuant to the terms of the Separation and Release Agreement between CarLotz, Inc. and the reporting person dated March 14, 2022 (the "Separation Agreement"), these options are fully vested and exercisable until June 16, 2022.
(7) These options are fully vested and exercisable in accordance with their terms.
(8) Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis.
(9) Pursuant to the terms of the Separation Agreement, these restricted stock units fully vested on March 16, 2022.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Bor Michael W
C/O WILLIAMS MULLEN, P.C.
200 SOUTH 10TH STREET, SUITE 1600
RICHMOND, VA 23219
X
Signatures
/s/ Michael W. Bor5/12/2022
**Signature of Reporting PersonDate
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.
Acamar Partners Acquisit... (NASDAQ:ACAM)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Acamar Partners Acquisit... Charts.
Acamar Partners Acquisit... (NASDAQ:ACAM)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Acamar Partners Acquisit... Charts.