Local Bounti Corporation Annual report pursuant to Section 13 and 15(d)

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

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 Value1
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

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1 These amounts give effect to the 1-to-4.969669 Stock Split in connection with the Business Combination that occurred in November 19, 2021

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 Value1
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
Vested2	(105,550)	$	6.75
Unvested and outstanding at December 31, 2021	2,395,789	$	9.73

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1 These amounts give effect to the 1-to-4.969669 Stock Split in connection with the Business Combination that occurred on November 19, 2021.

2 These shares were net settled for 45,396 shares to cover the required withholding tax upon vesting.