Matthew Slepian - Jan 1, 2023 Form 4 Insider Report for Casa Systems Inc (CASA)

Role: Corporate Controller
Signature: /s/ Timothy C. Rodenberger, as Attorney-in-Fact
Stock symbol: CASA
Transactions as of: Jan 1, 2023
Transactions value $: -$18,310
Form type: 4
Date filed: 1/4/2023, 05:52 PM
Previous filing: Sep 13, 2022
Next filing: Feb 28, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CASA	Common Stock	Options Exercise		+5.47K	+21.17%		31.3K	Jan 1, 2023	Direct	F1
transaction	CASA	Common Stock	Options Exercise		+13.9K	+44.35%		45.2K	Jan 1, 2023	Direct	F1
transaction	CASA	Common Stock	Tax liability	-$18.3K	-6.71K	-14.84%	$2.73	38.5K	Jan 1, 2023	Direct	F2

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	CASA	Restricted Stock Units	Options Exercise	$0	-5.47K	-33.33%	$0.00	10.9K	Jan 1, 2023	Common Stock	5.47K		Direct	F3, F4
transaction	CASA	Restricted Stock Units	Options Exercise	$0	-13.9K	-25%	$0.00	41.7K	Jan 1, 2023	Common Stock	13.9K		Direct	F3, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted stock units ("RSUs") converted into common stock, $0.001 par value per share (the "Common Stock"), of Casa Systems, Inc. (the "Company") on a one-for-one basis upon vesting of the units.
F2	Shares withheld by the Company to satisfy tax withholding requirements on vesting of RSUs. No shares were sold.
F3	Each Restricted Stock Unit ("RSU") represents the right to receive one share of common stock, $0.001 par value per share (the "Common Stock") of Casa Systems, Inc. (the "Company") upon vesting, subject to the reporting person's continued service relationship with the Company and the other terms and conditions set forth in the applicable RSU agreement. In the sole discretion of the Company's board of directors, the Company may, with respect to any applicable vesting date, deliver to the reporting person Common Stock or cash having a fair market value equal to the number of shares of Common Stock underlying the portion of the RSU that vested on such date, payable within 30 days of the vesting date, less applicable taxes.
F4	These RSUs are scheduled to vest over four years, with 25% of the 21,882 shares underlying the award vesting on January 1, 2022, and 25% of the shares underlying the award vesting at the end of each successive one-year period thereafter. These RSUs have no expiration date.
F5	These RSUs are scheduled to vest over four years, with 25% of the 55,556 shares underlying the award vesting on January 1, 2023, and 25% of the shares underlying the award vesting at the end of each successive one-year period thereafter. The RSUs have no expiration date.