Statement of Changes in Beneficial Ownership (4)
April 05 2023 - 6:41PM
Edgar (US Regulatory)
FORM 4
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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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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
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Dunn Michael David |
2. Issuer Name and Ticker or Trading Symbol
Symbotic Inc.
[
SYM
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) See Remarks |
(Last)
(First)
(Middle)
C/O SYMBOTIC INC., 200 RESEARCH DRIVE |
3. Date of Earliest Transaction
(MM/DD/YYYY)
4/3/2023 |
(Street)
WILMINGTON, MA 01887 |
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
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(City)
(State)
(Zip)
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Rule 10b5-1(c) Transaction Indication
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Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to
satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Class A Common Stock | 4/3/2023 | | M | | 7666 | A | (1) | 144136 | D | |
Class A Common Stock | 4/3/2023 | | M | | 5498 | A | (1) | 149634 | D | |
Class A Common Stock | 4/3/2023 | | S(2) | | 932 | D | $22.7207 (3) | 148702 | D | |
Class A Common Stock | 4/3/2023 | | S(2) | | 1883 | D | $23.5673 (4) | 146819 | D | |
Class A Common Stock | 4/4/2023 | | S(2) | | 886 | D | $22.6902 (5) | 145933 | D | |
Class A Common Stock | 4/4/2023 | | S(2) | | 1411 | D | $23.2193 (6) | 144522 | D | |
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 | (7) | 4/3/2023 | | M | | | 7666 | (8) | (8) | Class A Common Stock | 7666.0 | $0 | 53668 | D | |
Restricted Stock Units | (7) | 4/3/2023 | | M | | | 5498 | (9) | (9) | Class A Common Stock | 5498.0 | $0 | 60480 | D | |
Explanation of Responses: |
(1) | Restricted stock units convert into Class A common stock on a one-for-one basis. |
(2) | The sales reported in this Form 4 represent shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units. These sales were mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a "sell to cover" transaction, and do not represent discretionary trades by the Reporting Person. |
(3) | In accordance with SEC guidance authorizing aggregate reporting of same-day purchases and sales, the shares were sold in multiple transactions at prices ranging from $22.60 to $23.00, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price withing the range set forth in this footnote. |
(4) | In accordance with SEC guidance authorizing aggregate reporting of same-day purchases and sales, the shares were sold in multiple transactions at prices ranging from $23.01 to $23.93, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price withing the range set forth in this footnote. |
(5) | In accordance with SEC guidance authorizing aggregate reporting of same-day purchases and sales, the shares were sold in multiple transactions at prices ranging from $22.38 to $23.00, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price withing the range set forth in this footnote. |
(6) | In accordance with SEC guidance authorizing aggregate reporting of same-day purchases and sales, the shares were sold in multiple transactions at prices ranging from $23.01 to $23.88, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price withing the range set forth in this footnote. |
(7) | Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A common stock. |
(8) | On August 17, 2022, the reporting person was granted 92,000 restricted stock units that vest as follows: 1/3 of the restricted stock units vested on January 1, 2023, and 1/12 of the restricted stock units vest quarterly thereafter, subject to the Reporting Person continued service with the Issuer on the applicable vesting dates. The restricted stock units that vested on April 1, 2023 were delivered on April 3, 2023. |
(9) | On August 17, 2022, the reporting person was granted 87,970 restricted stock units that vest as follows: 1/4 of the restricted stock units vested on January 1, 2023, and 1/16 of the restricted stock units vest quarterly thereafter, subject to the Reporting Person continued service with the Issuer on the applicable vesting dates. The restricted stock units that vested on April 1, 2023 were delivered on April 3, 2023. |
Remarks: Reporting Person's title is Senior Vice President, Sales, Marketing & Product Strategy. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Dunn Michael David C/O SYMBOTIC INC., 200 RESEARCH DRIVE WILMINGTON, MA 01887 |
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| See Remarks |
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Signatures
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/s/ Corey Dufresne, as Attorney-in-Fact for Reporting Person | | 4/5/2023 |
**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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