RideNow Group, Inc. — Director's Dealing 2023

Dec 16, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RumbleOn, Inc. (RMBL)
CIK: 0001596961
Period of Report: 2023-12-13

Reporting Person: Kennedy Michael W (Director, Chief Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-12-13	Stock options (Right to purchase)	$5.85	A	825000	Acquired	2033-11-01	Class B Common Stock (825000)	Direct

Footnotes

F1: These options vest when the minimum closing price of RMBL common stock remains at or above the minimum closing price for at least 30 consecutive trading days ("Target"), subject to his continuous employment and the other terms of the grant. Vesting at each applicable Target is as follows: 125,000 at $12; 175,000 at $17; 200,000 at $22; 225,000 at $35; and 100,000 at $40. The award was granted outside of the Company's shareholder-approved stock incentive plan as an inducement to Mr. Kennedy's entry into employment and approved by the Compensation Committee of the Board of Directors, in accordance with Nasdaq Listing Rule 5635(c)(4). Pursuant to Mr. Kennedy's employment agreement, the award was granted after the conclusion of two trading days following the completion of the Company's Rights Offering, which closed on December 8, 2023, and the exercise price per share was determined as the price of RMBL at the conclusion of trading on the day before the grant.