Cris Keirn - 31 Mar 2025 Form 4 Insider Report for Turtle Beach Corp (TBCH)

Signature
/s/ Megan S. Wynne, attorney-in-fact for Cris Keirn
Issuer symbol
TBCH
Transactions as of
31 Mar 2025
Net transactions value
-$287,011
Form type
4
Filing time
02 Apr 2025, 19:52:18 UTC
Previous filing
21 Nov 2024
Next filing
12 May 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TBCH Common Stock Options Exercise +7,476 +21% 43,124 01 Apr 2025 Direct F1
transaction TBCH Common Stock Options Exercise +7,920 +18% 51,044 01 Apr 2025 Direct F1
transaction TBCH Common Stock Options Exercise +4,500 +8.8% 55,544 01 Apr 2025 Direct F2
transaction TBCH Common Stock Options Exercise +5,250 +9.5% 60,794 01 Apr 2025 Direct F2
transaction TBCH Common Stock Options Exercise +7,000 +12% 67,794 01 Apr 2025 Direct F2
transaction TBCH Common Stock Options Exercise +6,552 +9.7% 74,346 01 Apr 2025 Direct F2
transaction TBCH Common Stock Tax liability $287,011 -19,618 -26% $14.63 54,728 01 Apr 2025 Direct F3

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 TBCH Performance Stock Units Award $0 +7,476 $0.000000 7,476 31 Mar 2025 Common stock 7,476 Direct F4, F5
transaction TBCH Performance Stock Units Options Exercise $0 -7,476 -100% $0.000000 0 01 Apr 2025 Common stock 7,476 Direct F4, F5
transaction TBCH Performance Stock Units Award $0 +7,920 $0.000000 7,920 31 Mar 2025 Common stock 7,920 Direct F4, F6
transaction TBCH Performance Stock Units Options Exercise $0 -7,920 -100% $0.000000 0 01 Apr 2025 Common stock 7,920 Direct F4, F6
transaction TBCH Restricted Stock Units Options Exercise $0 -4,500 -100% $0.000000 0 01 Apr 2025 Common stock 4,500 Direct F7, F8
transaction TBCH Restricted Stock Units Options Exercise $0 -5,250 -50% $0.000000 5,250 01 Apr 2025 Common stock 5,250 Direct F7, F9
transaction TBCH Restricted Stock Units Options Exercise $0 -7,000 -33% $0.000000 14,000 01 Apr 2025 Common stock 7,000 Direct F7, F10
transaction TBCH Restricted Stock Units Options Exercise $0 -6,552 -25% $0.000000 19,656 01 Apr 2025 Common stock 6,552 Direct F7, F11
transaction TBCH Restricted Stock Units Award $0 +34,176 $0.000000 34,176 01 Apr 2025 Common stock 34,176 Direct F7, F12
holding TBCH Stock Option (Right to Buy) 19,167 31 Mar 2025 Common stock 19,167 $12.10 Direct F13
holding TBCH Stock Option (Right to Buy) 12,605 31 Mar 2025 Common stock 12,605 $5.95 Direct F13
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Performance stock units ("PSUs") were converted into common stock on a one-for-one basis.
F2 Restricted stock units ("RSUs") were converted into common stock on a one-for-one basis.
F3 Represents shares withheld to satisfy tax withholding obligations upon the vesting of PSUs and RSUs awarded to the reporting person.
F4 These securities are PSUs representing a contingent right to receive one share of Turtle Beach Corporation common stock.
F5 Acquired upon achievement of certain performance criteria pursuant to 34% of the PSUs granted April 1, 2022 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of PSUs 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 PSUs vested with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024. Vested shares for this grant have been rounded down to the nearest whole share upon conversion into common stock on a one-for-one basis.
F6 Acquired upon achievement of certain performance criteria pursuant to 33% 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 PSUs vested with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024. Vested shares for this grant have been rounded down to the nearest whole share upon conversion into common stock on a one-for-one basis.
F7 The securities are RSUs 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.
F8 These RSUs vested in full on April 1, 2025.
F9 These RSUs vest in equal annual installments until April 1, 2026.
F10 These RSUs vest in equal annual installments until April 1, 2027.
F11 These RSUs vest in equal annual installments until April 1, 2028.
F12 One-quarter of these RSUs will vest on April 1, 2026, with the remainder of the RSUs vesting in equal annual installments until April 1, 2029.
F13 These options were exercisable as of the transaction date.