System1, Inc. — Director's Dealing 2022

May 12, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: System1, Inc. (SST)
CIK: 0001805833
Period of Report: 2022-05-10

Reporting Person: Filsinger Paul (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-05-10	Class A Common Stock	A	90000	$0.00	Acquired	425032	Direct

Footnotes

F1: Mr. Filsinger was granted 90,000 restricted stock units ("RSUs") in connection with his continued employment with System1, Inc. ("SST"). Each RSU represents the right to receive one share of SST Class A Common Stock upon vesting. Subject to the continued employment of Mr. Filsinger through the applicable vesting dates, (i) 4,500 of the RSUs will vest on January 28, 2023, (ii) 13,500 of the RSUs will vest in quarterly installments of 3,375 each on January 28, April 28, July 28 and October 28, 2024 and (iii) the remaining 72,000 RSUs will vest in eight (8) quarterly installments of 9,000 each on the quarterly anniversary thereafter.