Michael K. Hoffmann - May 26, 2022 Form 4 Insider Report for SolarWinds Corp (SWI)

Role
Director
Signature
/s/ Bradley Reed, Attorney-in-Fact
Stock symbol
SWI
Transactions as of
May 26, 2022
Transactions value $
$0
Form type
4
Date filed
5/31/2022, 05:20 PM
Previous filing
May 27, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SWI Common Stock Award $0 +18K +41.76% $0.00 61K May 26, 2022 Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units awarded pursuant to the annual equity grant under the issuer's non-employee director compensation policy that entitle the reporting person to receive one share of the issuer's common stock per restricted stock unit upon vesting. The restricted stock units vest 100% on the one-year anniversary of the grant date, subject to continued service through such date.
F2 On July 19, 2021, the Issuer announced the completion of the spin-off of its N-able business. In connection with the spin-off, outstanding Issuer restricted stock units were adjusted such that each restricted stock unit award was converted into 1.5744 restricted stock units. The table above reflects the number of restricted stock units, as adjusted for the spin-off.
F3 The number of securities beneficially owned has been adjusted to reflect the 1-for-2 reverse stock split effected by the Issuer on July 30, 2021.
F4 On July 30, 2021, the Issuer's Board of Directors declared a special cash dividend, payable on August 9, 2021. As a result, pursuant to the anti-dilution provisions of the Issuer's 2018 Equity Incentive Plan, outstanding restricted stock units were adjusted such that each restricted stock unit awarded to the reporting person was converted into 1.0862 restricted stock units. The number of securities beneficially owned has been adjusted to reflect the inclusion of such restricted stock units, as adjusted in connection with the special cash dividend.