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

Role
CFO and Treasurer
Signature
/s/ John T. Hanson
Stock symbol
HEAR
Transactions as of
Mar 18, 2024
Transactions value $
$0
Form type
4
Date filed
3/20/2024, 08:03 PM
Previous filing
May 19, 2023
Next filing
Apr 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding HEAR Common Stock 45.8K Mar 18, 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 +4K $0.00 4K Mar 18, 2024 Common stock 4K Direct F1, F2
transaction HEAR Performance Stock Units Award $0 +5.33K $0.00 5.33K Mar 18, 2024 Common stock 5.33K Direct F1, F3
transaction HEAR Performance Stock Units Award $0 +6.6K $0.00 6.6K Mar 18, 2024 Common stock 6.6K Direct F1, F4
holding HEAR Restricted Stock Units 6.88K Mar 18, 2024 Common stock 6.88K Direct F5, F6
holding HEAR Restricted Stock Units 9K Mar 18, 2024 Common stock 4.5K Direct F5, F7
holding HEAR Restricted Stock Units 18K Mar 18, 2024 Common stock 6K Direct F5, F8
holding HEAR Restricted Stock Units 31.5K Mar 18, 2024 Common stock 31.5K Direct F5, F9
holding HEAR Stock Option (Right to Buy) 2.7K Mar 18, 2024 Common stock 2.7K $2.04 Direct F10
holding HEAR Stock Option (Right to Buy) 29.4K Mar 18, 2024 Common stock 29.4K $3.12 Direct F10
holding HEAR Stock Option (Right to Buy) 14.2K Mar 18, 2024 Common stock 14.2K $12.10 Direct F10
holding HEAR Stock Option (Right to Buy) 33.2K Mar 18, 2024 Common stock 33.2K $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.