Faraday Future Intelligent Electric (FFIE) Form 4 FARADAY FUTURE INTELLIGENT ELECTRIC / Qing Ye 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^*

Ye Qing

(Last) (First) (Middle)

C/O FARADAY FUTURE INTELLIGENT ELECTRIC

INC., 18455 S. FIGUEROA STREET

(Street)

GARDENA CA 90248

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FARADAY FUTURE INTELLIGENT ELECTRIC INC. [ FFIE ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/21/2021

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

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
Stock Option (Right to Buy)	$2.548	07/21/2021		A		42,390		(2)	10/24/2028	Class A Common Stock	42,390	(1)	42,390	D
Stock Option (Right to Buy)	$2.548	07/21/2021		A		14,130		(3)	10/24/2028	Class A Common Stock	14,130	(1)	14,130	D
Stock Option (Right to Buy)	$2.548	07/21/2021		A		7,065		(4)	10/24/2028	Class A Common Stock	7,065	(1)	7,065	D
Stock Option (Right to Buy)	$2.548	07/21/2021		A		7,065		(5)	10/24/2028	Class A Common Stock	7,065	(1)	7,065	D
Stock Option (Right to Buy)	$2.548	07/21/2021		A		51,899		(6)	05/30/2029	Class A Common Stock	51,899	(1)	51,899	D
Stock Option (Right to Buy)	$2.548	07/21/2021		A		42,390		(7)	05/30/2029	Class A Common Stock	42,390	(1)	42,390	D
Stock Option (Right to Buy)	$2.548	07/21/2021		A		28,260		(8)	05/30/2029	Class A Common Stock	28,260	(1)	28,260	D
Stock Option (Right to Buy)	$2.406	07/21/2021		A		12,777		(9)	07/26/2030	Class A Common Stock	12,777	(1)	12,777	D
Stock Option (Right to Buy)	$2.406	07/21/2021		A		12,716		(10)	07/26/2030	Class A Common Stock	12,716	(1)	12,716	D
Stock Option (Right to Buy)	$2.406	07/21/2021		A		4,238		(11)	07/26/2030	Class A Common Stock	4,238	(1)	4,238	D
Stock Option (Right to Buy)	$2.406	07/21/2021		A		2,118		(12)	07/26/2030	Class A Common Stock	2,118	(1)	2,118	D
Stock Option (Right to Buy)	$2.406	07/21/2021		A		2,119		(13)	07/26/2030	Class A Common Stock	2,119	(1)	2,119	D
Stock Option (Right to Buy)	$2.406	07/21/2021		A		1,419		03/16/2020	07/26/2030	Class A Common Stock	1,419	(1)	1,419	D
Stock Option (Right to Buy)	$2.406	07/21/2021		A		35,446		(14)	12/16/2030	Class A Common Stock	35,446	(1)	35,446	D
Stock Option (Right to Buy)	$2.406	07/21/2021		A		959		10/15/2020	12/16/2030	Class A Common Stock	959	(1)	959	D

Explanation of Responses:

1. Pursuant to the Agreement and Plan of Merger, dated January 27, 2021, as amended, by and among Property Solutions Acquisitions Corp. ("PSAC"), PSAC Merger Sub Ltd., and FF Intelligent Mobility Global Holdings Ltd. ("FF") (the "Merger Agreement"), the merger pursuant to which closed on July 21, 2021 ("Closing"), (i) each outstanding share of FF common stock held by the reporting person converted into the right to receive shares of the Issuer's Class A common stock using an exchange ratio of 0.1413 (the "Exchange Ratio"), and (ii) each outstanding and unexercised option to purchase shares of FF common stock converted into an option to purchase shares of the Issuer's common stock, with necessary adjustments to reflect the Exchange Ratio but otherwise the same terms and conditions. On the Closing date, the closing price of the Issuer's common stock was $13.78. Following Closing, the Issuer will be renamed "Faraday Future Intelligent Electric Inc."

2. These stock options vest 25% on March 1, 2019, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date.

3. These stock options vest in a series of 48 equal monthly installments starting on March 1, 2019, subject to the reporting person's continued employment through the applicable vesting date.

4. These stock options vest in a series of 48 equal monthly installments starting on March 1, 2020, subject to the reporting person's continued employment through the applicable vesting date.

5. These stock options vest in a series of 48 equal monthly installments starting on March 1, 2021, subject to the reporting person's continued employment through the applicable vesting date.

6. These stock options vest 25% on March 15, 2020, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date.

7. These stock options vest 25% on August 29, 2019, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date.

8. These stock options vest in a series of 48 equal monthly installments starting on August 29, 2018, subject to the reporting person's continued employment through the applicable vesting date.

9. These stock options vest 25% on March 16, 2021, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date.

10. These stock options vest 25% on June 26, 2021, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date.

11. These stock options vest in a series of 48 equal monthly installments starting on June 26, 2021, subject to the reporting person's continued employment through the applicable vesting date.

12. These stock options vest in a series of 48 equal monthly installments starting on June 26, 2022, subject to the reporting person's continued employment through the applicable vesting date.

13. These stock options vest in a series of 48 equal monthly installments starting on June 26, 2023, subject to the reporting person's continued employment through the applicable vesting date.

14. These stock options vest 25% on October 15, 2021, then in a series of 36 equal monthly installments thereafter, subject to the reporting person's continued employment through the applicable vesting date.

	/s/ Jarret Johnson, as Attorney-in-Fact for Qing Ye	07/23/2021
	** 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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