X0306 4 2022-06-02 0 0001759008 CarLotz, Inc. LOTZ 0001761840 Peker Lev C/O CARLOTZ, INC. 3301 W. MOORE STREET RICHMOND VA 23230 1 1 0 0 CEO Class A Common Stock 2022-06-02 4 M 0 43729 0 A 76254 D Class A Common Stock 2022-06-03 4 S 0 20145 0.526 D 56109 D Restricted Stock Units 2022-06-02 4 M 0 43729 0 D Class A Common Stock 43729 2776271 D Restricted Stock Units 2032-05-18 Class A Common Stock 3500000 3500000 D Restricted Stock Units Class A Common Stock 680000 680000 D These shares of Class A common stock reflect the settlement of restricted stock units of the Issuer on June 2, 2022. Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis. The sale reported in the Form 4 was effected pursuant to a Rule 10b5-1 instruction solely with the intent to cover withholding taxes in connection with the settlement of restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A common stock, subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date. Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis. These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in Class A common stock as follows: (i) 1,311,892 restricted stock units will vest in substantially equal installments on the first thirty (30) monthly anniversaries of April 18, 2022, 43,729 of which have vested as of May 18, 2022; (ii) 631,087 restricted stock units will vest in substantially equal installments on the first four (4) quarterly anniversaries of April 18, 2022; (iii) 329,781 restricted stock units will vest on each of January 13, 2023 and January 13, 2024; and (iv) 217,459 restricted stock units will vest on January 13, 2025. These restricted stock units will vest if the following provisions are met: (i) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $4.00; (ii) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $8.00; and (iii) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $12.00, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates. These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in Class A common stock as follows: one-fourth of these restricted stock units vest on April 18, 2023, one-fourth of these restricted stock units vest on April 18, 2024, one-fourth of these restricted stock units vest on April 18, 2025 and one-fourth of these restricted stock units vest on April 18, 2026, assuming continued employment through the applicable vesting date. These restricted stock units do not expire. They either vest or are cancelled prior to the vesting date. /s/ Rebecca C. Polak as attorney-in-fact for Mr. Peker 2022-06-06