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

Role
VP Peripheral Nerve Science
Signature
/s/Erick DeVinney
Stock symbol
AXGN
Transactions as of
Mar 16, 2023
Transactions value $
-$22,900
Form type
4
Date filed
3/20/2023, 09:08 PM
Previous filing
Dec 28, 2022
Next filing
Oct 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AXGN Common Stock Options Exercise $0 +5.9K +5.54% $0.00 112K Mar 16, 2023 Direct F1
transaction AXGN Common Stock Tax liability -$15.2K -1.84K -1.63% $8.27 111K Mar 16, 2023 Direct F2
transaction AXGN Common Stock Options Exercise $0 +3K +2.71% $0.00 114K Mar 16, 2023 Direct F1
transaction AXGN Common Stock Tax liability -$7.72K -934 -0.82% $8.27 113K Mar 16, 2023 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 +5.9K $0.00 5.9K Mar 16, 2023 Common Stock 5.9K Direct F3, F4
transaction AXGN Restricted Stock Units Options Exercise $0 +3K $0.00 3K Mar 16, 2023 Common Stock 3K Direct F3, F5
transaction AXGN Employee Stock Option (right to purchase) Award $0 +64K $0.00 64K Mar 16, 2023 Common Stock 64K $8.27 Direct F6
transaction AXGN Restricted Stock Units Award $0 +46.3K $0.00 46.3K Mar 16, 2023 Common Stock 46.3K Direct F3, 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, 2023.
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, 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.
F5 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, 25% of the aggregate shares vest on March 16, 2023, and 25% 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 employee stock option will be fully vested on March 16, 2027 (4 years from the option grant date) based upon a vesting schedule whereby 50% of the aggregate shares vest on March 16, 2025 (24 months from the option grant date) and an additional 12.5% of the aggregate shares vest each 6 months thereafter.
F7 All shares of Axogen Inc. common stock underlying the restricted stock units will be fully vested on March 16, 2027 (4 years from the grant date) based upon a vesting schedule whereby 50% of the aggregateshares vest on March 16, 2025 (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.