Bradley Ottinger - Mar 16, 2022 Form 4 Insider Report for Axogen, Inc. (AXGN)

Role
General Counsel and CCO
Signature
/s/ Bradley Ottinger
Stock symbol
AXGN
Transactions as of
Mar 16, 2022
Transactions value $
-$5,165
Form type
4
Date filed
3/18/2022, 04:09 PM
Next filing
Jun 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AXGN Common Stock Award $0 +2.56K +221.33% $0.00 3.72K Mar 16, 2022 Direct F1, F2
transaction AXGN Common Stock Tax liability -$5.16K -648 -17.41% $7.97 3.07K Mar 16, 2022 Direct F3

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 AXGN Restricted Stock Units Options Exercise $0 -2.56K -33.33% $0.00 5.13K Mar 16, 2022 Common Stock 2.56K Direct F4, F5
transaction AXGN Restricted Stock Units Award $0 +45K $0.00 45K Mar 16, 2022 Common Stock 45K Direct F4, F6
transaction AXGN Employee Stock Option (right to purchase) Award $0 +41.9K $0.00 41.9K Mar 16, 2022 Common Stock 41.9K $8.20 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This reflects the number of restricted stock units that became vested as of March 16, 2022.
F2 Includes 1,158 shares acquired under the Axogen stock purchase plan in 2021.
F3 Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of restricted stock units. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person.
F4 Each restricted stock unit represents a contingent right to receive one share of Axogen, Inc. common stock.
F5 All shares of Axogen Inc. common stock underlying the restricted stock units will be fully vested on March 16, 2024 (3 years from the grant date) based upon a vesting schedule whereby 33.33% of the aggregate shares vest on March 16, 2022, 33.33% of the aggregate shares vest on March 16, 2023, and 33.34% of the aggregate shares vest on March 16, 2024. Vested shares will be delivered to the reporting person upon the vesting date.
F6 All shares of Axogen Inc. common stock underlying the restricted stock units will be fully vested on March 16, 2026 (4 years from the grant date) based upon a vesting schedule whereby 50% of the aggregateshares vest on March 16, 2024 (24 months from the grant date) and an additional 25% of the aggregate shares vest each 12 months thereafter. Vested shares will be delivered to the reporting person upon the vesting date.
F7 All shares of Axogen, Inc. common stock underlying the employee stock option will be fully vested on March 16, 2026 (4 years from the option grant date) based upon a vesting schedule whereby 50% of the aggregate shares vest on March 16, 2024 (24 months from the option grant date) and an additional 12.5% of the aggregate shares vest each 6 months thereafter.