J. Bryant Kirkland III - Dec 29, 2021 Form 4 Insider Report for Douglas Elliman Inc. (DOUG)

Role
SVP, Treasurer & CFO
Signature
/s/ J Bryant Kirkland III
Stock symbol
DOUG
Transactions as of
Dec 29, 2021
Transactions value $
$0
Form type
4
Date filed
1/3/2022, 08:00 PM
Previous filing
Dec 21, 2021
Next filing
Jan 10, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DOUG Common Stock Other $0 +244K $0.00 244K Dec 29, 2021 Direct F1, F2
transaction DOUG Common Stock Award $0 +150K +61.47% $0.00 394K Dec 31, 2021 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 244,010 shares of Common Stock of the Issuer acquired by the Reporting Person in a pro rata distribution by Vector Group Ltd. ("Vector") to holders of its common stock (including Vector common stock underlying outstanding stock option awards and restricted stock awards), which occurred on December 29, 2021 in a transaction exempt under Rules 16a-9 and 16b-3 of the Securities Exchange Act of 1934, as amended (the "Distribution"), comprised of (x) 97,434 shares of Common Stock acquired in respect of shares of Vector common stock held outright and (y) 146,576 shares of Common Stock acquired in respect of Vector common stock underlying outstanding stock option awards and restricted stock awards.
F2 (continued from Footnote 1) The Reporting Person's tax obligations arising from the portion of the Distribution made in respect of Vector common stock underlying stock option awards and restricted stock awards were satisfied by reducing the number of shares of Issuer Common Stock that would otherwise have been distributed to the Reporting Person by 95,098 shares.
F3 Following the Distribution, on December 31, 2021, the Issuer granted the Reporting Person a restricted stock award of 150,000 shares of Issuer Common Stock pursuant to Issuer's 2021 Management Incentive Plan. The award will vest in four equal annual installments commencing on December 15, 2022, subject to the Reporting Person's continued employment through each such vesting date or earlier vesting upon the Reporting Person's death or disability, termination of employment without cause or resignation for good reason and change-of-control.