James A. Clark - Oct 6, 2023 Form 4 Insider Report for LSI INDUSTRIES INC (LYTS)

Role
CEO and President, Director
Signature
/s/ F. Mark Reuter as Attorney-in-Fact for James A. Clark
Stock symbol
LYTS
Transactions as of
Oct 6, 2023
Transactions value $
-$357,869
Form type
4
Date filed
10/10/2023, 04:38 PM
Previous filing
Aug 28, 2023
Next filing
Aug 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LYTS Common Shares Options Exercise -$248K -15.3K -5.58% $16.18 260K Oct 6, 2023 Direct F1
transaction LYTS Common Shares Tax liability -$110K -6.77K -2.61% $16.18 253K Oct 6, 2023 Direct F1
holding LYTS Common Shares 165K Oct 6, 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
holding LYTS Option to Buy 500K Oct 6, 2023 Common Shares 500K $4.40 Direct F3, F4
holding LYTS Option to Buy 76.3K Oct 6, 2023 Common Shares 76.3K $6.80 Direct F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On October 8, 2021, the Reporting Person reported Issuer's grant of restricted stock units (RSUs) which vest in three equal annual installments. This Form 4 reports the annual vesting of the RSUs and withholding of shares by Issuer for the Reporting Person's tax obligations and updates end of period holdings.
F2 Common shares held in the LSI Industries Inc. Non-Qualified Deferral Compensation Plan.
F3 These holdings have been previously reported on Form 4.
F4 Non-qualified stock option granted pursuant to the Employment Agreement dated October 15, 2018 between the Reporting Person and the Issuer as an inducement award outside the Issuer's 2012 Stock Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4). The option vests as follows: (i) 250,000 shares on November 1, 2021; (ii) 125,000 shares if the closing price per share of the Issuer's common stock is at least $9.50 per share prior to the expiration of the option; and (iii) 125.000 shares if the closing price per share of the Issuer's common stock is at least $15.00 per share prior to the expiration of the option. The vesting of the option as to each tranche of shares is subject to the Reporting Person's continued employment with the Issuer as President and Chief Executive Officer on November 1, 2021.
F5 The options vest ratably over a three year time period.