Bradley Ottinger - 16 Mar 2023 Form 4 Insider Report for Axogen, Inc. (AXGN)

Role
General Counsel and CCO
Signature
/s/ Bradley Ottinger
Issuer symbol
AXGN
Transactions as of
16 Mar 2023
Net transactions value
-$21,783
Form type
4
Filing time
20 Mar 2023, 18:50:24 UTC
Previous filing
03 Jun 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AXGN Common Stock Options Exercise $0 +5,900 +33% $0.000000 23,698 16 Mar 2023 Direct F1, F2
transaction AXGN Common Stock Tax liability $6,599 -798 -3.4% $8.27 22,900 16 Mar 2023 Direct F3
transaction AXGN Common Stock Options Exercise $0 +2,563 +11% $0.000000 25,463 16 Mar 2023 Direct F1
transaction AXGN Common Stock Tax liability $15,184 -1,836 -7.2% $8.27 23,627 16 Mar 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 -5,900 -50% $0.000000 5,900 16 Mar 2023 Common Stock 5,900 Direct F4, F5
transaction AXGN Restricted Stock Units Options Exercise $0 -2,563 -50% $0.000000 2,564 16 Mar 2023 Common Stock 2,563 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.