Paul D. Elliott - 23 May 2023 Form 4 Insider Report for CARRIAGE SERVICES INC (CSV)

Role: Sr. VP and Regional Partner
Signature: /s/ Paul D. Elliott
Issuer symbol: CSV
Transactions as of: 23 May 2023
Net transactions value: -$475,408
Form type: 4
Filing time: 25 May 2023, 18:04:29 UTC
Previous filing: 24 Feb 2023
Next filing: 23 Feb 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CSV	Common Stock	Options Exercise	$347,038	+17,300	+51%	$20.06	51,173	23 May 2023	Direct
transaction	CSV	Common Stock	Tax liability	$367,233	-13,388	-26%	$27.43	37,785	23 May 2023	Direct	F1
transaction	CSV	Common Stock	Sale	$108,175	-3,894	-10%	$27.78	33,891	23 May 2023	Direct	F2
holding	CSV	Common Stock						6,029	23 May 2023	Joint with spouse

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	CSV	Stock Options	Options Exercise	$347,038	-17,300	-100%	$20.06	0	23 May 2023	Common Stock	17,300	$20.06	Direct	F3
holding	CSV	Stock Options						16,200	23 May 2023	Common Stock	16,200	$32.69	Direct	F4
holding	CSV	Stock Options						25,000	23 May 2023	Common Stock	25,000	$49.48	Direct	F5
holding	CSV	Performance Award						45,255	23 May 2023	Common Stock	45,255		Direct	F6
holding	CSV	Stock Options						50,000	23 May 2023	Common Stock	50,000	$34.79	Direct	F7
holding	CSV	Stock Options						16,610	23 May 2023	Common Stock	16,610	$25.43	Direct	F8
holding	CSV	Stock Options						38,600	23 May 2023	Common Stock	38,600	$26.54	Direct	F9

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

Explanation of Responses:

Id	Content
F1	Represents shares withheld on 5/23/2023 to cover the option price and taxes associated with the exercise of stock options.
F2	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.60 to $27.94, inclusive. The reporting person undertakes to provide to theIssuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, on request, full information regarding the number of shares sold at each separate price.
F3	Stock Options granted on 2/23/2016 pursuant to the Carriage Services, Inc. Second Amended and Restated 2006 Long-Term Incentive Plan which vested in equal increments each year over five years beginning 2/23/2017. 17,300 options were exercised on 5/23/2023.
F4	Stock Options granted on 2/22/2023 pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan which will vest in equal increments each year over three years beginning 2/22/2024.
F5	Stock Options granted on 2/23/2022 pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan which will vest in equal increments each year over seven years beginning 2/23/2023.
F6	Represents maximum number of performance awards, payable in shares on December 31, 2024 granted under the Carriage Services, Inc. 2017 Omnibus Incentive Plan. The award will vest (if at all) on December 31, 2024 provided that the Company's common stock reaches one of five pre-determined targets for a sustained period beginning on the grant date and ending on December 31, 2024.
F7	Stock Options granted on 2/17/2021 pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan which will vest in equal increments each year over five years beginning 2/17/2022.
F8	Stock Options granted on 2/14/2018 pursuant to the Carriage Services, Inc. 2017 Omnibus Plan which vested in equal increments each year over five years beginning 2/14/2019.
F9	Stock Options granted on 3/21/2017 pursuant to the Carriage Services, Inc. Second Amended and Restated 2006 Long-Term Incentive Plan which vested in equal increments each year over five years beginning 3/21/2018.