Slack (WORK) Form 4 Slack / Stewart Butterfield ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Butterfield Stewart

(Last) (First) (Middle)

C/O SLACK TECHNOLOGIES, INC.

500 HOWARD STREET

(Street)

SAN FRANCISCO, CA 94105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Slack Technologies, Inc. [ WORK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2019

4. If Amendment, Date of Original Filed (Month/Day/Year)

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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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	07/01/2019		C		228,801	A	$0(1)	254,018	D
Class A Common Stock	07/01/2019		S(2)		61,475	D	$36.82(3)	192,543	D
Class A Common Stock	07/01/2019		S(2)		39,300	D	$37.24(4)	153,243	D
Class A Common Stock	07/01/2019		S(2)		7,988	D	$38.18(5)	145,255	D
Class A Common Stock	07/01/2019		S		2,200	D	$36.87(6)	143,055	D
Class A Common Stock	07/01/2019		S		300	D	$38.12(7)	142,755	D
Class A Common Stock	07/02/2019		S		2,500	D	$36.43(8)	140,255	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: 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
Restricted Stock Units	(9)	07/01/2019		M			228,801	(10)	06/08/2023	Class B Common Stock(1)	228,801	$0(9)	1,906,675	D
Class B Common Stock	(1)	07/01/2019		M		228,801		(1)	(1)	Class A Common Stock	228,801	$0	41,365,533	D
Class B Common Stock	(1)	07/01/2019		C			228,801	(1)	(1)	Class A Common Stock	228,801	$0	41,136,732	D

Explanation of Responses:

1. Each share of Class B Common Stock is convertible without payment or consideration into one share of Class A Common Stock at the option of the holder and has no expiration date.

2. Shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units (RSUs).

3. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $36.08 to $37.07. 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. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.08 to $38.07. 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.

5. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.08 to $38.31. 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.

6. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $36.42 to $37.17. 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.

7. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.05 to $38.16. 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.

8. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $36.00 to $36.90. 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.

9. Each RSU represents the right to receive one share of Class B Common Stock.

10. The RSUs are subject to time-based and performance-based vesting criteria. The time-based vesting occurred with respect to 130,743 of the units on October 1, 2017; and the remaining units vested at a rate of 4.286% of the total RSU grant per quarter thereafter until June 20, 2019, at which point the remaining unvested units began vesting at a rate of 7.5% of the total RSU grant per quarter, subject, in each case, to the Reporting Person's continued service with the issuer on each such date. The performance-based criteria was satisfied upon the Issuer's listing and public trading of its Class A Common Stock on June 20, 2019.

Remarks:

	/s/ David Schellhase, as Attorney-in-Fact	07/03/2019
	** 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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