secwatch.observer — SEC 8-K summary
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Issuer:     Grove Collaborative Holdings, Inc. (GROV)
CIK:        0001841761
Form:       8-K
Filed at:   2022-09-23T23:59:59+00:00
Accession:  0001841761-22-000037
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Grove Collaborative approves stock option exchange for underwater options, granting new RSUs
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- Holders of options with exercise price ≥$1.92 may exchange for new RSUs at ratios of 1.20:1 to 1.95:1 depending on price range.
- New RSUs from vested options vest 50% on grant date, then 25% each on Feb 15 and May 15, 2023.
- New RSUs from unvested options vest quarterly until the original option would have fully vested.
- Named executive officers and directors are eligible on same terms as employees.
- Exchange offer expected to launch September 26, 2022 and expire 20 business days later.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841761/000184176122000037/0001841761-22-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841761/000184176122000037/grov-20220919.htm
  HTML page:      https://secwatch.observer/filing/0001841761-22-000037

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer