SNAPCHAT INC filed this 4 on 11/20/17
Snap Inc (Form: 4, Received: 11/20/2017 21:34:03)
FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Khan Imran
2. Issuer Name and Ticker or Trading Symbol

Snap Inc [ SNAP ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Chief Strategy Officer
(Last)          (First)          (Middle)

C/O SNAP INC., 63 MARKET STREET
3. Date of Earliest Transaction (MM/DD/YYYY)

11/16/2017
(Street)

VENICE, CA 90291
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock   11/16/2017     C (1)    186105   A $0.00   10308770   D    
Class A Common Stock   11/16/2017     S    372210   (2) D $12.5384   (3) 9936560   D    
Class A Common Stock   11/20/2017     C (1)    168613   A $0.00   10105173   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Common Stock   $0.00   11/16/2017     C   (1)       186105   (4)     (5)   (6) Class A Common Stock   186105   $0.00   2415155   D    
Class B Common Stock   $0.00   11/20/2017     C   (1)       168613      (5)   (6) Class A Common Stock   168613   $0.00   2246542   D    

Explanation of Responses:
(1)  Represents shares of Class B Common Stock converted into shares of Class A Common Stock at the option of the reporting person.
(2)  Represents the sale of shares to cover tax withholding obligations in connection with the settlement and release of restricted stock units ("RSUs") granted by the issuer to the reporting person.
(3)  The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.38 to $12.67 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(4)  Represents the settlement and release of RSUs granted by the issuer to the reporting person which were subsequently converted to Class A Common Stock and sold to cover tax withholding obligations. Each RSU represents a contingent right to receive one share of issuer's Class B Common Stock.
(5)  As reported on a Form 3 filed on March 1, 2017, the reporting person was granted 4,729,562 RSUs, of which 10% vest once the reporting person completes 12 months of continuous service from January 16, 2015; 20% vest in equal quarterly installments during the second 12-month period of the reporting person's continuous service; 30% vest in equal quarterly installments during the third 12-month period of the reporting person's continuous service; and 40% vest in equal quarterly installments during the fourth 12-month period of the reporting person's continuous service.
(6)  The Class B Common Stock has no expiration date.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Khan Imran
C/O SNAP INC.
63 MARKET STREET
VENICE, CA 90291


Chief Strategy Officer

Signatures
/s/ Seth Gottlieb, Attorney-in-fact 11/20/2017
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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