Juergen Stark - May 9, 2023 Form 4 Insider Report for Turtle Beach Corp (HEAR)

Role
CEO & President, Director
Signature
/s/ Juergen Stark
Stock symbol
HEAR
Transactions as of
May 9, 2023
Transactions value $
-$711,140
Form type
4
Date filed
5/11/2023, 06:21 PM
Previous filing
May 2, 2023
Next filing
May 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HEAR Common Stock Options Exercise $100K +49K +14.57% $2.04* 385K May 9, 2023 Direct
transaction HEAR Common Stock Options Exercise $58K +12.5K +3.24% $4.64 398K May 9, 2023 Direct F1
transaction HEAR Common Stock Sale -$545K -49K -12.32% $11.12 349K May 9, 2023 Direct F2
transaction HEAR Common Stock Options Exercise $47.9K +23.5K +6.74% $2.04* 372K May 10, 2023 Direct
transaction HEAR Common Stock Options Exercise $58K +12.5K +3.36% $4.64 385K May 10, 2023 Direct F1
transaction HEAR Common Stock Options Exercise $64K +20.5K +5.33% $3.12 405K May 10, 2023 Direct
transaction HEAR Common Stock Sale -$494K -44K -10.85% $11.23 361K May 10, 2023 Direct F3, F4

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 Stock Option (Right to Buy) Options Exercise $0 -49K -67.59% $0.00 23.5K May 9, 2023 Common Stock 49K $2.04 Direct F5, F7
transaction HEAR Stock Option (Right to Buy) Options Exercise $0 -12.5K -11.11% $0.00 100K May 9, 2023 Common Stock 12.5K $4.64 Direct F5, F7
transaction HEAR Stock Option (Right to Buy) Options Exercise $0 -23.5K -100% $0.00* 0 May 10, 2023 Common Stock 23.5K $2.04 Direct F5, F7
transaction HEAR Stock Option (Right to Buy) Options Exercise $0 -12.5K -12.5% $0.00 87.5K May 10, 2023 Common Stock 12.5K $4.64 Direct F5, F7
transaction HEAR Stock Option (Right to Buy Options Exercise $0 -20.5K -18.22% $0.00 92K May 10, 2023 Common Stock 20.5K $3.12 Direct F5, F7
holding HEAR Stock Option (Right to Buy) 70K May 9, 2023 Common Stock 70K $7.24 Direct F5, F7
holding HEAR Stock Option (Right to Buy) 105K May 9, 2023 Common Stock 105K $12.10 Direct F5, F7
holding HEAR Stock Option (Right to Buy) 115K May 9, 2023 Common Stock 115K $5.95 Direct F5, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects shares held following options exercises, resulting in net increase of 25,000 shares held.
F2 Reflects the weighted average price of sales on May 9, 2023. The shares were sold in multiple transactions at prices ranging from $10.73 to $11.33, inclusive. The reporting person undertakes to provide to Turtle Beach Corporation, any security holder of Turtle Beach Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
F3 Reflects the weighted average price of sales on May 10, 2023. The shares were sold in multiple transactions at prices ranging from $11.09 to $11.43, inclusive. The reporting person undertakes to provide to Turtle Beach Corporation, any security holder of Turtle Beach Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
F4 This number reflects an additional 90 shares that were inadvertently omitted by the reporting person in prior filings.
F5 All options were exercisable as of the transaction date.
F6 The vesting of these options was accelerated pursuant to the previously-disclosed separation letter agreement dated as of May 1, 2023 between the issuer and the reporting person (the "Separation Letter").
F7 The expiration date of these options was revised under the terms of the Separation Letter to the earlier of (x) the then-remaining term pursuant to the terms of each option or (y) the first anniversary of the June 30, 2023.