Poshmark (POSH) director Chaddha returned to the company 2,083 shares at $17.90

Insider transactions reported

Navin Chaddha (director at Poshmark Inc., POSH) reported that they returned to the company 2,083 shares at $17.90 on Jan 5, 2023. After these transactions the filing shows 0 shares held directly.

Reporting person

Chaddha Navin

Options and other derivatives

Holdings before and after

• Class A Common Stock: 2,083 to 0 direct
• Restricted Stock Units: 15,324 to 0 direct

Footnotes from the filing

1. 1. Pursuant to the Agreement and Plan of Merger, dated October 3, 2022 (the Merger Agreement ), by and among Poshmark, Inc. ( Issuer ), NAVER Corporation ( Parent ), Proton Parent, Inc. ( Proton Parent ), and Proton Merger Sub, Inc. ( Merger Sub ), on January 5, 2023, Merger Sub merged with and into Issuer, with Issuer surviving the merger as an indirect subsidiary of Parent (such merger and the other transactions contemplated by the Merger Agreement, the Merger ). At the effective time of the Merger (the Effective Time ), each then outstanding share of Issuer's Class A common stock was cancelled, extinguished and converted into the right to receive an amount in cash equal to $17.90, without interest (the Merger Consideration ), subject to applicable withholding taxes.
2. 2. At the Effective Time, each restricted stock unit ( RSU ) award that remained unvested and outstanding immediately prior to the Effective Time (an Unvested Company RSU ) was fully accelerated and became a Vested Company RSU pursuant to the Poshmark's Amended and Restated Non-Employee Director Compensation Policy.
3. 3. Each RSU represents a contingent right to receive one share of the Issuer's Class A common stock. The RSUs shall vest in full on the earlier of (i) June 14, 2023 or (ii) the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continued service on the Issuer's Board of Directors.

Transaction codes in this filing

Sale back to the company:

Code D marks a disposition back to the company under an exempt plan, as opposed to a sale in the market.

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