EX-99.(A)(1)(P) 4 exhibita1p-stockoptionrepr.htm EX-99.(A)(1)(P) Document

Exhibit (a)(1)(P)

Sonder Holdings Inc.
Stock Option Repricing Program
Training on How to Make Your Elections - Transcript

Hey, everyone, we're going to make this short and sweet, this is just to walk through how you make the elections as I know you’ve probably spent a lot of time going through all the other documents.

First, we want to jump right in. We use a third-party facilitator for this called Infinite Equity. You should have received an email from Ruby Alexander on October 18th, that includes the link to go through.

Once you're on the site, and you’ve created your account, you’ll be able to view all the offer documents. You’ll be able to elect the options that you want to reprice on a grant-by-grant basis.

You can use their calculator to view the value of what those options would look like at a future price. You can change your election anytime during the offering period, until it's closed which is November 15th at 9:00 pm PST.
Here's what it looks like. Once you click on the link, you’ll be able to go in and use your Sonder email address and create a password.

Then you’ll be sent a verification code.

Once you’ve created the account, this is the landing page that you’re going to see. Here's where you can see all the resources where you can click and review all the documents, and then you’ll click the blue link to go ahead and proceed to the election form.

This one is also available in French, and so if you click on the link in the top right, you'll be able to change the landing page to French, and most of the documents are also in French.
Then, once you’ve decided to move forward, you’ll go in here and actually make your elections. It’s pretty easy as there is a drop down next to each grant you can choose to reprice or choose to not reprice. Note, you will have to elect the entire grant that you want to reprice. You cannot just elect to reprice a portion of the grant.

You can see there’s a blue button for the value calculator that I mentioned before.

Once you’ve made the selections and click next, you’ll get to this page. This is the screen where you can acknowledge that this is actually what you want to do, and then you will type your name as an electronic signature, it’s pretty easy.
Once you’ve done that, you’ll get to this Elections Complete page. If you don't get here, you haven’t quite finished it correctly. So, you want to make sure to get to this page.

You’ll also receive an email from Infinite Equity going through the Options Repricing Program, and what the details are of your elections that you made.

Some of the key considerations that you’ll want to know is that even if you select all of your options to be repriced, only those with a grant price higher than the closing price on November 15th will actually be adjusted.

A couple of examples for you. Let’s say you have a grant from February 7, 2020, with an exercise price of $2.85. If the closing price of Sonder goes to $3.12 on November 15th, that option would not be repriced

On the other side of that, let’s say you have an option award that you received on August 9, 2021, that has an exercise price of $8.79. On November 15th, the closing price is $3.12. This option grant would be repriced, and your new exercise price will be $3.12.

So please make sure you go out and make the elections.

Thanks again.