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

Role
Chief Commercial Officer
Signature
/s/ Eric Sandberg
Stock symbol
AXGN
Transactions as of
Mar 16, 2022
Transactions value $
-$12,051
Form type
4
Date filed
3/18/2022, 04:10 PM
Previous filing
Feb 17, 2022
Next filing
Jul 20, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AXGN Common Stock Options Exercise $0 +6K +72.2% $0.00 14.3K Mar 16, 2022 Direct F1
transaction AXGN Common Stock Tax liability -$12.1K -1.51K -10.57% $7.97 12.8K Mar 16, 2022 Direct F2

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 -6K -50% $0.00 6K Mar 16, 2022 Common Stock 6K Direct F3, F4
transaction AXGN Restricted Stock Units Award $0 +62.9K $0.00 62.9K Mar 16, 2022 Common Stock 62.9K Direct F3, F5
transaction AXGN Employee Stock Option (right to purchase) Award $0 +60.6K $0.00 60.6K Mar 16, 2022 Common Stock 60.6K $10.25 Direct F6, 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 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.
F3 Each restricted stock unit represents a contingent right to receive one share of Axogen, Inc. common stock.
F4 All shares of Axogen Inc. common stock underlying the restricted stock units will be fully vested on March 16, 2024 (4 years from the grant date) based upon a vesting schedule whereby 50% of the aggregate shares vest on March 16, 2022 (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.
F5 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.
F6 The exercise price of $10.25 represents a 25% premium over the fair market value of Axogen common stock on the date of the grant.
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 25% of the aggregate shares vest on March 16, 2023 and on each anniversary thereafter.