Joseph F. Hanna - Feb 28, 2022 Form 4 Insider Report for MCGRATH RENTCORP (MGRC)

Role
President and CEO
Signature
David Whitney, POA for Joseph Hanna
Stock symbol
MGRC
Transactions as of
Feb 28, 2022
Transactions value $
-$705,998
Form type
4
Date filed
3/2/2022, 05:40 PM
Previous filing
Mar 1, 2022
Next filing
Mar 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MGRC Common Stock Options Exercise $0 +12.2K +12.62% $0.00 109K Feb 28, 2022 Direct F4
transaction MGRC Common Stock Options Exercise $0 +2.79K +2.56% $0.00 112K Feb 28, 2022 Direct
transaction MGRC Common Stock Options Exercise $0 +2.96K +2.65% $0.00 115K Feb 28, 2022 Direct
transaction MGRC Common Stock Tax liability -$706K -8.69K -7.58% $81.28 106K Feb 28, 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 MGRC Restricted Stock Unit Options Exercise $0 -12.2K -100% $0.00* 0 Feb 28, 2022 Common Stock 12.2K $0.00 Direct F1
transaction MGRC Restricted Stock Unit Options Exercise $0 -2.79K -100% $0.00* 0 Feb 28, 2022 Common Stock 2.79K $0.00 Direct F2
transaction MGRC Restricted Stock Unit Options Exercise $0 -2.96K -49.99% $0.00 2.96K Feb 28, 2022 Common Stock 2.96K $0.00 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Unless earlier forfeited under the terms of the performance based RSU, each RSU vests and converts into no less than 50% and no more than 200% of one share of McGrath RentCorp common stock. The RSUs vest 100% at the end of the three-year performance period if the performance goal is satisfied.
F2 The restricted stock unit shall vest 33% on the first annual anniversary of the grant; 33% on the second annual anniversary of the grant; and 34% on the third annual anniversary of the grant. Each restricted stock unit represents a right to receive one share of common stock or an amount equal to the fair market value of the common stock underlying the unit on the vesting date.
F3 The conversion price of the RSUs was based on the closing price of McGrath RentCorp common stock on February 28, 2022 and therefore such date is determined to be the date exercisable.
F4 Shares acquired upon vesting of performance based RSUs. Each vested RSU converts into 146% of one share of McGrath RentCorp common stock.