John Jeffrey Chesnut - Feb 15, 2022 Form 4 Insider Report for Loyalty Ventures Inc. (LYLT)

Signature
Cynthia L. Hageman, Attorney in Fact
Stock symbol
LYLT
Transactions as of
Feb 15, 2022
Transactions value $
-$18,485
Form type
4
Date filed
2/17/2022, 03:17 PM
Previous filing
Dec 7, 2021
Next filing
May 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LYLT Common Stock Award +27.4K +184.43% 42.3K Feb 15, 2022 Direct F1
transaction LYLT Common Stock Award +14.8K +34.92% 57.1K Feb 15, 2022 Direct F2
transaction LYLT Common Stock Tax liability -$18.5K -749 -1.31% $24.68* 56.3K Feb 16, 2022 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The new grant is for 27,436 shares of common stock represented by time-based restricted stock units. The time restrictions may lapse on 9,053 units on 2/15/23, on 9,054 units on 2/15/24 and on 9,329 units on 2/15/25 subject to continued employment by the Reporting Person with the Issuer on the vesting date.
F2 The new grant is for 14,774 shares of common stock represented by performance-based restricted stock units, which may be adjusted up or down from 0% to 150% at the time the performance restriction lapses, contingent on meeting a predetermined 2022 consolidated adjusted EBITDA performance measure. Further time restrictions may lapse with respect to 33% of such shares on each of 2/15/23 and 2/15/24 and with respect to 34% of such shares on 2/15/25 subject to continued employment by the Reporting Person with the Issuer on the vesting date.
F3 Shares withheld by the Company to satisfy the Reporting Person's tax withholding obligation upon the vesting of restricted stock units.
F4 The total number of securities beneficially owned includes: (a) 3,767 unrestricted shares; (b) 4,894 unvested units from an award of 4,894 time-based restricted stock units granted 12/7/21; (c) 5,466 unvested time-based restricted stock units from an award of 8,157 time-based restricted stock units granted 12/7/21; (d) the new grant for 27,436 time-based restricted stock units; and (e) the new grant for 14,774 performance-based restricted stock units.