Local Bounti Corporation General form of registration statement for all companies including face-amount certificate companies

Stock-based Compensation (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

A summary of the restricted common stock awards (“RSAs”) for three months ended March 31, 2022 is as follows:


	Number of Shares of Restricted Common Stock Awards			Average Grant-Date Fair Value
Unvested at December 31, 2021		5,479,451		$	1.80
Vested		(208,682	)	$	2.66

Unvested at March 31, 2022		5,270,769		$	1.84

A summary of the change in control restricted common stock activity awards for 2021 and 2020 is as follows:


	Number of Shares of Restricted Common Stock Awards			Average Grant- Date Fair Value
Unvested at January 1, 2020		—		$	—
Granted		1,799,811		$	1.27
Retroactive conversion of shares due to the Business Combination		7,144,653		$	1.27
Unvested at December 31, 2020, as converted		8,944,464		$	1.27
Granted		2,086,827		$	2.66
Forfeited		(904,698	)	$	1.27
Vested		(4,647,142	)	$	1.27
Unvested at December 31, 2021		5,479,451		$	1.80

A summary of the change in control restricted stock units (“RSUs”) activity for the three months ended March 31, 2022 is as follows:


	Number of RSUs			Average Grant-Date Fair Value
Unvested at December 31, 2021		2,395,789		$	9.73
Granted		7,321,188		$	5.67
Forfeited		(49,697	)	$	(9.97	)
Vested		(123,884	)	$	(9.83	)

Unvested and outstanding at March 31, 2022		9,543,396		$	6.61

A summary of the change in control RSUs activity for 2021 (there was no activity prior to 2021) is as follows:


	Number of RSUs			Average Grant- Date Fair Value
Unvested at December 31, 2020		—		$	—
Granted and vested		503,821		$	9.60
Retroactive conversion of shares due to the Business Combination		2,000,003		$	9.60
Forfeited		(2,485	)	$	9.97
Vested 2		(105,550	)	$	6.75

Unvested and outstanding at December 31, 2021		2,395,789		$	9.73