Jeffrey J. Guzy - Dec 22, 2021 Form 4 Insider Report for Leatt Corp (LEAT)

Role
Director
Signature
/s/ Jeffrey J. Guzy
Stock symbol
LEAT
Transactions as of
Dec 22, 2021
Transactions value $
$56,060
Form type
4
Date filed
1/12/2022, 06:14 AM
Previous filing
Dec 21, 2021
Next filing
Jan 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LEAT Common Stock, par value $0.001 per share Tax liability $26K +10K +22.77% $2.60* 53.9K Dec 20, 2021 Direct F1, F2
transaction LEAT Common Stock, par value $0.001 per share Award $30.1K +1K +1.89% $30.06 53.9K Dec 22, 2021 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person was the holder of 43,917 shares of the Issuer's common stock after giving effect to a 1-for-25 reverse split of the Issue's common stock effected on September 20, 2012.
F2 On November 22, 2016, the Issuer's Board of Directors approved the grant to the Reporting Person, of a 10-year option to purchase 10,000 shares of the Issuer's common stock at an exercise price of $2.60 a share under the Issuer's 2011 Amended and Restated Equity Incentive Plan, all of which vested by March 29, 2019. On December 20, 2021, the Reporting Person exercised his options to purchase 10,000 shares of the Issuer's Common Stock for an aggregate purchase price of $26,000.
F3 On December 22, 2021, the Issuer's Board approved the award of 1,000 restricted shares of the Issuer's common stock to the Reporting Person, pursuant to a Restricted Stock Award Agreement, under the Issuer's 2011 Plan. Sixty percent, or 600 shares, of the restricted stock vested on December 31, 2021, and the remaining forty percent, or 400 shares, will vest on four equal parts on March 31, 2022, June 30, 2022, September 30, 2022, and December 31, 2022, respectively; provided, however, that any unvested restricted stock will fully vest in the event of any change in control of the Issuer.