Shift Executives Announce Purchase of Shares

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June 01, 2021

SAN FRANCISCO, June 01, 2021 (GLOBE NEWSWIRE) -- Shift (NASDAQ: SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, today announced completed purchases of SFT Class A common stock on the open market by certain Section 16 and other executives: Co-Founder and Co-CEO Toby Russell; Co-Founder and Co-CEO George Arison; Chief Financial Officer (CFO) Oded Shein; and Chief Revenue Officer (CRO) Mark McCollum.

“Our decision to purchase shares reflects our strong belief that Shift is uniquely positioned to be a leading and transformative e-commerce platform for auto sales and our excitement about opportunities to drive growth and create long-term shareholder value this year and beyond,” commented Russell.

About Shift

Shift is a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience. Shift’s mission is to make car purchase and ownership simple — to make buying or selling a used car fun, fair, and accessible to everyone. Shift provides comprehensive, digital solutions throughout the car ownership lifecycle: finding the right car, having a test drive brought to you before buying the car, a seamless digitally-driven purchase transaction including financing and vehicle protection products, an efficient, digital trade-in/sale transaction, and a vision to provide high-value support services during car ownership. For more information please visit

Forward Looking Statements

This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of Shift’s business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward looking statements. These factors include, but are not limited to: (1) competition in the markets in which Shift participates; (2) changes in applicable laws or regulations; (3) the possibility that Shift may be adversely affected by other economic, business, and/or competitive factors; (4) the operational and financial outlook of Shift; (5) the ability for Shift to execute its growth strategy and manage growth profitably; (6) Shift’s ability to purchase sufficient quantities of vehicles at attractive prices; (7) Shift’s ability to maintain relationships with customers and suppliers and retain its management and key employees; and (8) other risks and uncertainties indicated from time to time in other documents filed or to be filed with the SEC by Shift. Additional factors that could cause actual results to differ materially from those expressed or implied in forward looking statements can be found in Shift’s most recent annual report on Form 10K, subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, which are available, free of charge, at the SEC’s website at New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Shift undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Investor Relations Contact:

Drew Haroldson, The Blueshirt Group

Media Contact:

Jeff Fox, The Blueshirt Group