Scipio Maximus Carnecchia - Nov 26, 2023 Form 4 Insider Report for MITEK SYSTEMS INC (MITK)

Role
Chief Executive Officer, Director
Signature
/s/ Jason Gray, by Power of Attorney
Stock symbol
MITK
Transactions as of
Nov 26, 2023
Transactions value $
$0
Form type
4
Date filed
11/30/2023, 08:59 AM
Previous filing
Nov 16, 2023
Next filing
Dec 12, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MITK Common Stock Options Exercise $0 +42.7K +11.47% $0.00 415K Nov 26, 2023 Direct F1
transaction MITK Common Stock Options Exercise $0 +30.5K +7.36% $0.00 445K Nov 27, 2023 Direct F1

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 MITK Performance Restricted Stock Units Options Exercise $0 -42.7K -16.4% $0.00 217K Nov 26, 2023 Common Stock 42.7K Direct F2, F3, F4
transaction MITK Performance Restricted Stock Units Options Exercise $0 -30.5K -14.05% $0.00 187K Nov 27, 2023 Common Stock 30.5K Direct F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Performance restricted stock units convert into common stock on a one-for-one basis.
F2 The annual performance criteria for each annual Performance Period shall be for the % increase in value of Mitek's common stock to meet or exceed the % increase in value of the Russell 2000 Index over the applicable annual Performance Period, based on a hypothetical investment in both Mitek's common stock and the Russell 2000 Index with a purchase price equal to the average closing price of each for the 20-trading days immediately preceding the start of the applicable Performance Period. At the end of the applicable Performance Period, the value of the hypothetical investments shall be determined by assuming the sale of each based on the average closing price of each from the immediately preceding 20-trading days. The % change shall be determined by comparing the increase in value to the starting investment.
F3 Additionally, a portion of the Performance RSUs may vest during a later Performance Period if the cumulative % increase in value of Mitek common stock measured over the current and all previous Performance Periods exceeds the cumulative % increase in value of the Russell 2000 Index.
F4 On November 26, 2021, the reporting person was granted restricted stock units under Mitek's 2020 Incentive Plan (the "Performance RSUs"), which vest based upon the achievement of certain performance criteria over the three year period following the date of grant (each such year, a "Performance Period"), with up to 33% of such units vesting (on each anniversary of the date of grant) with respect to each applicable Performance Period. Performance criteria is measured on both an annual and cumulative basis as described below.
F5 On November 27, 2020, the reporting person was granted restricted stock units under Mitek's 2020 Incentive Plan (the "Performance RSUs"), which vest based upon the achievement of certain performance criteria over the three year period following the date of grant (each such year, a "Performance Period"), with up to 33% of such units vesting (on each anniversary of the date of grant) with respect to each applicable Performance Period. Performance criteria is measured on both an annual and cumulative basis as described below.