0001628280-22-005961.txt : 20220311 0001628280-22-005961.hdr.sgml : 20220311 20220311174720 ACCESSION NUMBER: 0001628280-22-005961 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220309 FILED AS OF DATE: 20220311 DATE AS OF CHANGE: 20220311 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Rekow Mathew CENTRAL INDEX KEY: 0001825551 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-38703 FILM NUMBER: 22734339 MAIL ADDRESS: STREET 1: 5521 HELLYER AVENUE CITY: SAN JOSE STATE: CA ZIP: 95138 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Velodyne Lidar, Inc. CENTRAL INDEX KEY: 0001745317 STANDARD INDUSTRIAL CLASSIFICATION: GENERAL INDUSTRIAL MACHINERY & EQUIPMENT, NEC [3569] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 5521 HELLYER AVENUE CITY: SAN JOSE STATE: CA ZIP: 95138 BUSINESS PHONE: (669) 275-2251 MAIL ADDRESS: STREET 1: 5521 HELLYER AVENUE CITY: SAN JOSE STATE: CA ZIP: 95138 FORMER COMPANY: FORMER CONFORMED NAME: Graf Industrial Corp. DATE OF NAME CHANGE: 20180702 4 1 wf-form4_164703882023246.xml FORM 4 X0306 4 2022-03-09 0 0001745317 Velodyne Lidar, Inc. VLDR 0001825551 Rekow Mathew 5521 HELLYER AVENUE SAN JOSE CA 95138 0 1 0 0 Chief Technology Officer Common Stock 2022-03-09 4 M 0 7569 A 62130 D Common Stock 2022-03-10 4 S 0 4945 2.06 D 57185 D Common Stock 2022-03-10 4 S 0 16367 2.0571 A 73552 D Restricted Stock Unit 2022-03-09 4 M 0 2755 0 D Common Stock 13772.0 11017 D Restricted Stock Unit 2022-03-09 4 M 0 4814 0 D Common Stock 62580.0 57766 D The Reporting Person was granted Restricted Stock Units ("RSUs") which represent a contingent right to receive one share of Common Stock for each RSU. The shares were issued pursuant to vested RSUs released on March 9, 2022. The sales reported on this Form 4 represent shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the previously reported vesting and settlement of RSUs. These sales are mandated by the Reporting Person's award agreement to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person. This transaction was effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on November 9, 2021. The price represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $2.045 to $2.09. The Reporting Person has provided to the Issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range. The Reporting Person received RSUs were received in connection with the merger described in that certain Agreement and Plan of Merger, dated as of July 2, 2020 (the "Merger"), and amended on August 20, 2020, by and among Graf Industrial Corp., a Delaware corporation now known as Velodyne Lidar, Inc. ("New Velodyne"), VL Merger Sub Inc., a Delaware corporation, and Velodyne Lidar, Inc., a Delaware corporation now known as Velodyne Lidar USA, Inc., the Reporting Person received RSUs in New Velodyne in exchange for RSUs in Velodyne Lidar USA, Inc. The RSUs were received in exchange for Fifteen Thousand (15,000) RSUs in Velodyne Lidar USA, Inc. in connection with the Merger. Subject to the satisfaction of both a liquidity event requirement and service-based requirement, each RSU represents the right to receive one (1) share of Common Stock. The liquidity-event requirement was deemed satisfied by the Board of Directors of New Velodyne in October 2020 and the service-based requirement will be or, as applicable, was satisfied with respect to twenty-five percent (25%) of the RSUs when the Reporting Person remains or, as applicable, remained in continuous service through the one-year anniversary of February 22, 2019 and with respect to six-and-one-quarter percent (6.25%) of the RSUs when the Reporting Person completes or, as applicable, completed each three (3) months of continuous service thereafter. The Reporting Person was granted RSUs which represents a contingent right to receive one (1) share of Common Stock for each RSU. The RSU shall vest with respect to six-and-one-quarter percent (6.25%) of the RSUs on each company quarterly vesting dates after February 28, 2021, provided the Reporting Person remains in continuous service on each vesting date. Quarterly vesting dates are February 28, May 28, August 28 and November 28. /s/ Tracey Mastropoalo, Attorney-in-Fact 2022-03-11