System1, Inc. — Director's Dealing 2022

Jun 22, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: System1, Inc. (SST)
CIK: 0001805833
Period of Report: 2022-06-17

Reporting Person: Sestanovich Elizabeth (Chief People Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-06-17	Class A Common Stock	A	21368	—	Acquired	140209	Direct

Footnotes

F1: Ms. Sestanovich was granted 21,368 restricted stock units ("RSUs") in connection with the replacement of previously unvested Value Creation Units of the Issuer's predecessor entity (the "Original VCUs") outstanding as of the closing of the Issuer's business combination transaction (the "Replacement RSUs"), of which 6,999 of the Replacement RSUs were deemed vested as of the grant date. Each Replacement RSU represents the right to receive one (1) share of SST Class A Common Stock upon vesting. Subject to the continued employment of Ms. Sestanovich through the applicable vesting dates, the Replacement RSUs vest in quarterly installments over the course of the Original VCU remaining vesting schedule(s).

F2: Includes 74,369 unvested RSUs.