1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Stock Options (right to buy)
(1)
|
(2)
|
03/23/2032 |
Common Stock
|
82,500
|
$
9.23
|
D
|
|
Restricted Stock Units
(3)
|
(4)
|
04/18/2024 |
Common Stock
|
82,500
|
$
0
|
D
|
|
* |
If the form is filed by more than one reporting person, see Instruction 5(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). |
(1) |
Each stock option represents a right to buy one share of our common stock. |
(2) |
One third of the grant (the "Option Shares") will vest and become exercisable on 3/23/23 (the "Year Anniversary"); the balance of the Option Shares will vest in eight (8) quarterly, consecutive, and equal installments thereafter, beginning on the first calendar day of the fiscal quarter immediately following the Year Anniversary, until all Option Shares are fully vested. |
(3) |
Each Restricted Stock Unit reflects the right to receive one share of common stock. |
(4) |
The Reporting Person must remain in service to the Company through April 18, 2024 for any Restricted Stock Units to vest (the " Units" ). The Units will vest on April 18, 2024 to the extent that the following price triggers have been satisfied: (i) 55,000 Units have no price trigger , (ii) 27,500 Units are subject to a 20-day $30 VWAP price trigger. |