Bradley Ottinger - Mar 16, 2023 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, 2023
Transactions value $
-$21,783
Form type
4
Date filed
3/20/2023, 06:50 PM
Previous filing
Jun 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AXGN Common Stock Options Exercise $0 +5.9K +33.15% $0.00 23.7K Mar 16, 2023 Direct F1, F2
transaction AXGN Common Stock Tax liability -$6.6K -798 -3.37% $8.27 22.9K Mar 16, 2023 Direct F3
transaction AXGN Common Stock Options Exercise $0 +2.56K +11.19% $0.00 25.5K Mar 16, 2023 Direct F1
transaction AXGN Common Stock Tax liability -$15.2K -1.84K -7.21% $8.27 23.6K Mar 16, 2023 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 -5.9K -50% $0.00 5.9K Mar 16, 2023 Common Stock 5.9K Direct F4, F5
transaction AXGN Restricted Stock Units Options Exercise $0 -2.56K -49.99% $0.00 2.56K Mar 16, 2023 Common Stock 2.56K Direct F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Bradley Ottinger is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 This reflects the number of restricted stock units that became vested as of March 16, 2023.
F2 Includes 3,000 shares acquired under the Axogen stock purchase plan in 2022.
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, 2025 (4 years from the grant date) based upon a vesting schedule whereby 50% of the aggregate shares vest on March 16, 2023, 25% of the aggregate shares vest on March 16, 2024, and 25% of the aggregate shares vest on March 16, 2025. 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, 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.