Lucky Strike Entertainment Corp — Director's Dealing 2021

Dec 18, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Bowlero Corp. ([BOWL)
CIK: 0001840572
Period of Report: 2021-12-15

Reporting Person: Parker Brett I. (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-12-15	Class A Common Stock	A	992844	—	Acquired	992844	Direct
2021-12-15	Class A Common Stock	A	1472387	—	Acquired	2465231	Direct
2021-12-15	Class A Common Stock	F	667728	$10.00	Disposed	1797503	Direct
2021-12-15	Class A Common Stock	A	697702	—	Acquired	2495205	Direct
2021-12-15	Class A Common Stock	F	316408	$10.00	Disposed	2178797	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-12-15	Stock Option (Right to Buy)	$10.00	A	183128	Acquired	2031-12-15	Class A Common Stock (183128)	Direct
2021-12-15	Stock Option (Right to Buy)	$10.00	A	393750	Acquired	2031-12-15	Class A Common Stock (393750)	Direct
2021-12-15	Stock Option (Right to Buy)	$12.00	A	393750	Acquired	2031-12-15	Class A Common Stock (393750)	Direct
2021-12-15	Stock Option (Right to Buy)	$14.00	A	393750	Acquired	2031-12-15	Class A Common Stock (393750)	Direct
2021-12-15	Stock Option (Right to Buy)	$16.00	A	393750	Acquired	2031-12-15	Class A Common Stock (393750)	Direct
2021-12-15	Stock Option (Right to Buy)	$18.00	A	393750	Acquired	2031-12-15	Class A Common Stock (393750)	Direct
2021-12-15	Stock Option (Right to Buy)	$7.92	A	4079120	Acquired	2031-12-15	Class A Common Stock (4079120)	Direct

Footnotes

F1: Repressents restricted shares ("Restricted Shares") of Class A Common Stock, par value $0.0001 per share ("Class A Common Stock") received in connection with the Acquisition. 50% of the Restricted Shares will vest if the closing share price of the Class A Common Stock equals or exceeds $15.00 per share for any 10 trading days within any consecutive 20-trading day period on or prior to the 5-year anniversary of the closing date of the Acquisition, and 50% of the Restricted Shares will vest if the closing share price of the Class A Common Stock equals or exceeds $17.50 per share for any 10 trading days within any consecutive 20-trading day period on or prior to the 5-year anniversary of the closing date of the Acquisition, and will otherwise be forfeited on the 5-year anniversary of the closing of the Acquisition.

F2: Represents shares of Class A Common Stock of the Issuer received in exchange for shares of capital stock of Bowlero. Corp ("Legacy Bowlero") in connection with the acquisition by the Issuer of Legacy Bowlero (the "Acquisition").

F3: The stock options will vest and become exercisable in one-third installments on the first, second and third anniversaries of December 15, 2021.

F4: The stock options will vest and become exercisable in one-third installments on the second, third and fourth anniversaries of December 15, 2021.

F5: The stock options will vest and become exercisable in one-third installments on the third, fourth and fifth anniversaries of December 15, 2021.

F6: The stock options will vest and become exercisable in one-third installments on the fourth, fifth and sixth anniversaries of December 15, 2021.

F7: The stock options will vest and become exercisable in one-third installments on the fifth, sixth and seventh anniversaries of December 15, 2021.

F8: Represents stock options received in connection with the Acquisition in exchange for stock options of Legacy Bowlero.