SEC Form 3: New insider Evans Craig E claimed ownership of 6,519,664 shares
$STWO
Business Services
Finance
| FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES 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*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 10/08/2021 |
3. Issuer Name and Ticker or Trading Symbol
ESS Tech, Inc. [ GWH ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
|---|---|---|---|
| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Stock | 4,602,453(1) | D | |
| Common Stock | 1,917,211(1) | I | See footnote(2) |
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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 Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Employee Stock Option (right to buy) | (3) | 07/23/2030 | Common Stock | 172,395 | 0.3331 | D | |
| Employee Stock Option (right to buy) | (4) | 04/19/2028 | Common Stock | 38,923 | 0.3061 | I | See footnote(2) |
| Employee Stock Option (right to buy) | (5) | 07/23/2030 | Common Stock | 296,058 | 0.3305 | I | See footnote(2) |
| Restricted Stock Units | (6) | 04/08/2026 | Common Stock | 58,984 | (6) | D | |
| Restricted Stock Units | (6) | 04/08/2026 | Common Stock | 56,626 | (6) | I | See footnote(2) |
1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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| Explanation of Responses: |
| 1. Pursuant to an "earnout" provision of the Agreement and Plan of Merger, dated as of May 6, 2021 (the "Merger Agreement"), by and among ACON S2 Acquisition Corp, SCharge Merger Sub, Inc., and ESS Tech, Inc., the reporting person is entitled to receive additional shares of common stock, for no additional consideration, if the volume weighted average price of the common stock over twenty trading days within any thirty trading day period exceeds certain thresholds (the "Earnout Rights"). Of these Earnout Rights, one half will be issued if the volume weighted average price of the common stock over twenty trading days within any thirty trading day period is greater than or equal to $12.50, and one half will be issued if the volume weighted average price of the common stock over twenty trading days within any thirty trading day period is greater than or equal to $15.00. |
| 2. The shares are held Julia Song. The reporting persons are husband and wife. |
| 3. The shares subject to the option vest in 48 equal monthly installments beginning on February 22, 2021. |
| 4. The shares subject to the option are fully vested and immediately exercisable. |
| 5. The shares subject to the option vest in 48 equal monthly installments beginning on August 24, 2020. |
| 6. Each restricted stock unit, or RSU, represents a contingent right to receive one share of common stock. The RSUs vest if the common stock exceeds the same thresholds as the Earnout Rights described in footnote (1). |
| Remarks: |
| Exhibit 24.1 - Power of Attorney - Craig Evans Exhibit 24.2 - Power of Attorney - Julia Song |
| /s/ Amir Moftakhar, by power of attorney for Craig Evans | 10/18/2021 | |
| /s/ Amir Moftakhar, by power of attorney for Julia Song | 10/18/2021 | |
| ** 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 5 (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 Number. | ||