Grant Gawronski - Jan 28, 2022 Form 4 Insider Report for Gates Industrial Corp plc (GTES)

Role: Chief Commercial Officer
Signature: /s/ Hillary Barrett-Osborne
Stock symbol: GTES
Transactions as of: Jan 28, 2022
Transactions value $: -$50,215
Form type: 4
Date filed: 2/1/2022, 05:43 PM
Next filing: Feb 23, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GTES	Ordinary Shares	Options Exercise	$0	+12.8K	+11.88%	$0.00	120K	Jan 28, 2022	Direct	F1
transaction	GTES	Ordinary Shares	Tax liability	-$50.2K	-3.34K	-2.77%	$15.03	117K	Jan 28, 2022	Direct	F2

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	GTES	Performance-Based Restricted Stock Units (PBRSU)	Options Exercise	$0	-12.8K	-40%	$0.00	19.2K	Jan 28, 2022	Ordinary Shares	12.8K		Direct	F1, F3
transaction	GTES	Performance-Based Restricted Stock Units (PBRSU)	Disposed to Issuer	$0	-19.2K	-100%	$0.00^*	0	Jan 28, 2022	Ordinary Shares	19.2K		Direct	F3, F4

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

Explanation of Responses:

Id	Content
F1	Represents the number of ordinary shares vested pursuant to the performance-based restricted stock unit ("PBRSU") award granted on February 22, 2019 and reported on the Form 4 filed with the Securities and Exchange Commission on February 26, 2019, following the Compensation Committee's certification on January 28, 2022 of the Company's achievement of 40% of the three year performance measure, which was based 50% on total shareholder return with relative measures and 50% on adjusted return on invested capital.
F2	Represents ordinary shares withheld to satisfy certain tax and par value withholdings in connection with the vesting of the PBRSUs.
F3	Each PBRSU represents a contingent right to receive one ordinary share.
F4	Represents the portion of the PBRSU award granted on February 22, 2019 that did not vest and was forfeited in connection with the certification described above.