Michael F. Leggio III - Mar 1, 2023 Form 4 Insider Report for ADAMS RESOURCES & ENERGY, INC. (AE)

Role: Chief Operating Officer
Signature: /s/ Michael F. Leggio III
Stock symbol: AE
Transactions as of: Mar 1, 2023
Transactions value $: -$19,505
Form type: 4
Date filed: 3/2/2023, 03:32 PM
Previous filing: Oct 26, 2022
Next filing: Mar 23, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AE	Common stock	Options Exercise	$0	+176	+19.56%	$0.00	1.08K	Mar 1, 2023	Direct
transaction	AE	Common stock	Options Exercise	$0	+239	+22.21%	$0.00	1.32K	Mar 1, 2023	Direct
transaction	AE	Common stock	Options Exercise	$0	+229	+17.41%	$0.00	1.54K	Mar 1, 2023	Direct
transaction	AE	Common stock	Options Exercise	$0	+729	+47.22%	$0.00	2.27K	Mar 1, 2023	Direct
transaction	AE	Common stock	Tax liability	-$19.5K	-336	-14.78%	$58.05	1.94K	Mar 1, 2023	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	-176	-13.11%	$0.00	1.17K	Mar 1, 2023	Common stock	176		Direct	F1, F2
transaction	AE	Restricted stock units	Options Exercise	$0	-239	-20.5%	$0.00	927	Mar 1, 2023	Common stock	239		Direct	F2, F3
transaction	AE	Restricted stock units	Options Exercise	$0	-229	-24.7%	$0.00	698	Mar 1, 2023	Common stock	229		Direct	F2, F4
transaction	AE	Performance share units	Options Exercise	$0	-729	-39.03%	$0.00	1.14K	Mar 1, 2023	Common stock	729		Direct	F5
transaction	AE	Restricted stock units	Award	$0	+808	+115.76%	$0.00	1.51K	Mar 1, 2023	Common stock	808		Direct	F2, F6, F7
transaction	AE	Performance share units	Award	$0	+808	+70.38%	$0.00	1.96K	Mar 1, 2023	Common stock	808		Direct	F8, F9

* 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 528 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 718 restricted stock units of Adams Resources & Energy, Inc. (AE) vesting in three equal installments beginning on 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 was previously granted 687 restricted stock units of Adams Resources & Energy, Inc. (AE) vesting in three equal installments beginning on March 1, 2023. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F5	The reporting person was previously granted performance share units of AE vesting on March 1, 2023.
F6	The reporting person received a grant of 808 restricted stock units of Adams Resources & Energy, Inc. (AE) on March 1, 2023. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F7	The restricted stock units will vest (i.e., the restrictions will lapse) in three equal annual installments beginning on March 1, 2024, provided the reporting person remains in continuing active service on the vesting date (subject to accelerated vesting in some circumstances).
F8	The reporting person received a grant of 808 performance share units of Adams Resources & Energy, Inc. on March 1, 2023. The performance share units will vest on March 1, 2026, 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.
F9	Total includes 453 and 686 performance share units previously awarded on March 1, 2021 and March 1, 2022, respectively, as reported. An additional 9 performance share units are the result of the achievement of applicable performance conditions during the 2022 period.