Greg L. Mills - Mar 1, 2022 Form 4 Insider Report for ADAMS RESOURCES & ENERGY, INC. (AE)

Role: President, GulfMark Energy
Signature: /s/ Greg L. Mills
Stock symbol: AE
Transactions as of: Mar 1, 2022
Transactions value $: -$5,660
Form type: 4
Date filed: 3/2/2022, 03:43 PM
Next filing: Jan 31, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AE	Common stock	Options Exercise	$0	+372	+65.03%	$0.00	944	Mar 1, 2022	Direct
transaction	AE	Common stock	Options Exercise	$0	+357	+37.82%	$0.00	1.3K	Mar 1, 2022	Direct
transaction	AE	Common stock	Tax liability	-$5.66K	-178	-13.68%	$31.80	1.12K	Mar 1, 2022	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AE	Restricted stock units	Options Exercise	$0	-372	-20.47%	$0.00	1.45K	Mar 1, 2022	Common stock	372		Direct	F1, F2
transaction	AE	Restricted stock units	Options Exercise	$0	-357	-24.71%	$0.00	1.09K	Mar 1, 2022	Common stock	357		Direct	F2, F3
transaction	AE	Restricted stock units	Award	$0	+1.2K	+110.48%	$0.00	2.29K	Mar 1, 2022	Common stock	1.2K		Direct	F2, F4, F5
transaction	AE	Performance share units	Award	$0	+1.2K	+54.03%	$0.00	3.42K	Mar 1, 2022	Common stock	1.2K		Direct	F6, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reporting person was previously granted 1,117 restricted stock units of Adams Resources & Energy, Inc. (AE) vesting in three equal installments beginning March 1, 2021. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F2	Total includes restricted stock units previously awarded that have different vesting and expiration dates, as reported.
F3	The reporting person was previously granted 1,072 restricted stock units of Adams Resources & Energy, Inc. (AE) vesting in three equal installments beginning March 1, 2022. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F4	The reporting person received a grant of 1,202 restricted stock units of Adams Resources & Energy, Inc. (AE) on March 1, 2022. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F5	The restricted stock units will vest (i.e., the restrictions will lapse) in three equal annual installments beginning on March 1, 2023, provided the reporting person remains in continuing active service on the vesting date (subject to accelerated vesting in some circumstances).
F6	The reporting person received a grant of 1,201 performance share units of Adams Resources & Energy, Inc. on March 1, 2022. The performance share units will vest on March 1, 2025, provided the reporting person remains in continuing active service on the vesting date (subject to accelerated vesting in certain circumstances), and subject to the attainment of certain performance criteria as specified in the award agreement.
F7	Total includes 1,117 performance share units previously awarded on March 30, 2020 that vest on March 1, 2023, as reported. An additional 430 performance share units are the result of the achievement of applicable performance conditions during the 2020 period. Total also includes 676 performance share units previously awarded on March 1, 2021 that vest on March 1, 2024, as reported. The remaining 395 performance share units awarded on March 1, 2021 will not vest on the basis of the applicable performance conditions set for the in the award agreement and are no longer held by the reporting person.