Microvast Holdings, Inc. — Director's Dealing 2021

Jul 27, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Microvast Holdings, Inc. (MVST)
CIK: 0001760689
Period of Report: 2021-07-23

Reporting Person: Wu Yang (Director, CEO, COB, Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-07-23	Class A Common Stock	A	85036953	—	Acquired	85036953	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-07-23	Earnout Rights	$	A	8823694	Acquired		Class A Common Stock (8823694)	Direct

Footnotes

F1: Received in exchange for 530,582 shares of common stock of Microvast, Inc. ("Microvast") in connection with the closing of the transactions contemplated by the Agreement and Plan of Merger by and between Tuscan Holdings Corp. ("Tuscan Holdings"), TSCN Merger Sub Inc. and Microvast, dated February 1, 2021 (the "Merger Agreement"), including the renaming of Tuscan Holdings to the Issuer (the "Merger"). On the effective date of the Merger, the closing price of the Issuer's Class A Common Stock was $10.00.

F2: Pursuant to the earnout provisions in the Merger Agreement, the Reporting Person is entitled to receive shares of Class A Common Stock if the daily volume weighted average price of the common stock is greater than or equal to $18.00 for any 20 trading days within a 30 trading day period (or a change of control occurs that results in the holders of common stock receiving a per share price equal to or in excess of $18.00), during the period commencing on the closing date of the Merger and ending on the third anniversary of the closing date of the Merger.

F3: Received in connection with the Merger and pursuant to the terms of the Merger Agreement.