SEC FORM 4

SEC FORM 4 SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Wu Shengxian

(Last)

(First)

(Middle)

12603 SOUTHWEST FREEWAY

SUITE 210

(Street)

STAFFORD

77477

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Microvast Holdings, Inc. [ MVST ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CEO, Microvast China

3. Date of Earliest Transaction (Month/Day/Year)
07/23/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$6.82	07/23/2021		A		160,300		⁽¹⁾	07/23/2027	Class A Common Stock	160,300	⁽²⁾	160,300	D
Employee Stock Option (right to buy)	$6.82	07/23/2021		A		641,200		⁽¹⁾	07/27/2030	Class A Common Stock	641,200	⁽³⁾	641,200	D
Employee Stock Option (right to buy)	$6.82	07/23/2021		A		480,900		⁽¹⁾	12/24/2030	Class A Common Stock	480,900	⁽⁴⁾	480,900	D
Capped Restricted Stock Unit	$6.82	07/23/2021		A		142,987		⁽⁵⁾	⁽⁵⁾	Class A Common Stock	142,987	⁽⁶⁾	142,987	D

Explanation of Responses:

1. The shares underlying this option vest one-third on each of the first, second and third anniversaries of the Merger.

2. Received in connection with the closing of the transactions contemplated by the Agreement and Plan of Merger by and among Tuscan Holdings Corp, TSCN Merger Sub Inc. and Microvast, Inc. ("Microvast"), dated February 1, 2021 (the "Merger"), in exchange for an employee stock option to acquire 1,000 shares of common stock of Microvast for $1,005.85 per share.

3. Received in the Merger in exchange for an employee stock option to acquire 4,000 shares of common stock of Microvast for $1,005.85 per share.

4. Received in the Merger in exchange for an employee stock option to acquire 3,000 shares of common stock of Microvast for $1,005.85 per share.

5. The Capped Restricted Stock Units convert into one share of Common Stock on vesting and are subject to the same conditions and vesting schedule as stock options.

6. Received in the Merger in exchange for the right to receive 892 shares of common stock of Microvast for $1005.85 per share

	/s/ Sarah Alexander, Attorney-in-Fact	07/26/2021
	** 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 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).
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