John T. Hanson - 18 Mar 2024 Form 4 Insider Report for Turtle Beach Corp (TBCH)

Role
CFO and Treasurer
Signature
/s/ John T. Hanson
Issuer symbol
TBCH
Transactions as of
18 Mar 2024
Net transactions value
$0
Form type
4
Filing time
20 Mar 2024, 20:03:14 UTC
Previous filing
19 May 2023
Next filing
03 Apr 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding HEAR Common Stock 45,804 18 Mar 2024 Direct

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 HEAR Performance Stock Units Award $0 +4,000 $0.000000 4,000 18 Mar 2024 Common stock 4,000 Direct F1, F2
transaction HEAR Performance Stock Units Award $0 +5,333 $0.000000 5,333 18 Mar 2024 Common stock 5,333 Direct F1, F3
transaction HEAR Performance Stock Units Award $0 +6,602 $0.000000 6,602 18 Mar 2024 Common stock 6,602 Direct F1, F4
holding HEAR Restricted Stock Units 6,875 18 Mar 2024 Common stock 6,875 Direct F5, F6
holding HEAR Restricted Stock Units 9,000 18 Mar 2024 Common stock 4,500 Direct F5, F7
holding HEAR Restricted Stock Units 18,000 18 Mar 2024 Common stock 6,000 Direct F5, F8
holding HEAR Restricted Stock Units 31,500 18 Mar 2024 Common stock 31,500 Direct F5, F9
holding HEAR Stock Option (Right to Buy) 2,696 18 Mar 2024 Common stock 2,696 $2.04 Direct F10
holding HEAR Stock Option (Right to Buy) 29,391 18 Mar 2024 Common stock 29,391 $3.12 Direct F10
holding HEAR Stock Option (Right to Buy) 14,167 18 Mar 2024 Common stock 14,167 $12.10 Direct F10
holding HEAR Stock Option (Right to Buy) 33,230 18 Mar 2024 Common stock 33,230 $5.95 Direct F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The securities are performance stock units representing a contingent right to receive one share of Turtle Beach Corporation common stock.
F2 Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2021 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024, subject to continued employment through such date.
F3 Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2022 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024, subject to continued employment through such date.
F4 Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2023 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024, subject to continued employment through such date.
F5 The securities are restricted stock units representing a contingent right to receive one share of Turtle Beach Corporation common stock, or cash with a value equal to the fair market value of the underlying common stock, or a combination thereof.
F6 These restricted stock units vest in equal annual installments until April 1, 2024.
F7 These restricted stock units vest in equal annual installments until April 1, 2025.
F8 These restricted stock units vest in equal annual installments until April 1, 2026.
F9 One-quarter of these restricted stock units will vest on April 1, 2024, with the remainder of the restricted stock units vesting in equal annual installments until April 1, 2027.
F10 All options were exercisable as of the transaction date.
F11 These options are scheduled to vest in equal monthly installments until April 1, 2024.