Taimur Sharih - Nov 30, 2021 Form 4 Insider Report for RAVEN INDUSTRIES INC (RAVN)

Role
Vice President & CFO
Signature
/s/ Taimur Sharih
Stock symbol
RAVN
Transactions as of
Nov 30, 2021
Transactions value $
$0
Form type
4
Date filed
12/1/2021, 06:30 PM

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 RAVN Restricted Stock Units - 2021 Disposed to Issuer -4.87K -100% 0 Nov 30, 2021 Common Stock 4.87K Direct F1, F4, F7
transaction RAVN Restricted Stock Units - 2021 Disposed to Issuer -4.55K -100% 0 Nov 30, 2021 Common Stock 4.55K Direct F1, F5, F7
transaction RAVN Restricted Stock Units - 2021 Disposed to Issuer -9.09K -100% 0 Nov 30, 2021 Common Stock 9.09K Direct F2, F3, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Time-Based Restricted Stock Unit is the economic equivalent of one share of Raven Industries, Inc. ("Raven") Common Stock.
F2 Each Performance-Based Restricted Stock Unit is the economic equivalent of one share of Raven Common Stock.
F3 The target number of shares of Raven Common Stock was 4,547.
F4 The Time-based Restricted Stock Units become vested on the third anniversary of the effective date (March 4, 2021), provided that the Reporting Person remains continuously employed by Raven through such vesting date.
F5 The Time-based Restricted Stock Units become vested on the third anniversary of the effective date (April 5, 2021), provided that the Reporting Person remains continuously employed by Raven through such vesting date.
F6 Subject to the achievement of certain performance conditions, Performance-based Restricted Stock Units become vested on the third anniversary of the effective date (April 5, 2021), provided that the Reporting Person remains continuously employed by Raven through such vesting date.
F7 Disposed of as a result of the merger pursuant to the previously announced Agreement and Plan of Merger (the "Merger"), dated as of June 20, 2021, by and among Raven, CNH Industrial N.V. and CNH Industrial South Dakota, Inc., as it may be amended from time to time (the "Merger Agreement"). The shares of Raven Common Stock were converted in the Merger into the right to receive $58.00 in cash per share of Common Stock.