Michael S. Williams - Dec 15, 2023 Form 4 Insider Report for TimkenSteel Corp (TMST)

Signature
/s/ Kristine C. Syrvalin, as Attorney-in-Fact
Stock symbol
TMST
Transactions as of
Dec 15, 2023
Transactions value $
$0
Form type
4
Date filed
12/18/2023, 06:00 PM
Previous filing
Mar 3, 2023
Next filing
Jan 8, 2024

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 TMST Performance-Based Restricted Share Units Award $0 +80K $0.00 80K Dec 15, 2023 Common Shares 80K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Performance-Based Restricted Share Unit ("PRSU") represents the right to receive one Issuer Common Share (or a cash payment equivalent thereto), plus cash dividend equivalents as applicable.
F2 In general, the PRSUs can be earned from 0% to 200% depending on the degree to which the Issuer's Common Shares satisfy up to seven specified average closing price goals (based on 20 consecutive trading days' achievement of a specified 20-trading-day average price) (the "Average Share Price Goals") from December 1, 2023 through December 31, 2026. Generally, PRSUs earned based on the Average Share Price Goals (or, if earlier, based upon performance evaluation through a change in control of the Issuer) then generally pay out (subject to a payment cap) in two equal installments in early 2027 and 2028, subject to certain alternative terms for death, disability or termination without cause.