Rajan Naik - Mar 8, 2023 Form 4 Insider Report for Motorola Solutions, Inc. (MSI)

Role
SVP, Strategy & Ventures
Signature
Kristin L. Kruska, on behalf of Rajan S. Naik, Senior Vice President, Strategy & Ventures (Power of Attorney on File)
Stock symbol
MSI
Transactions as of
Mar 8, 2023
Transactions value $
-$114,506
Form type
4
Date filed
3/10/2023, 03:29 PM
Previous filing
Feb 28, 2023
Next filing
Mar 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
transaction MSI Motorola Solutions, Inc. - Common Stock Options Exercise $0 +1.39 K +11.65% $0.00 13.3 K Mar 8, 2023 Direct F1
transaction MSI Motorola Solutions, Inc. - Common Stock Tax liability -$115 K -428 -3.21% $267.59 12.9 K Mar 8, 2023 Direct

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 MSI Market Stock Units Options Exercise $0 -945 -50% $0.00 945 Mar 8, 2023 Motorola Solutions, Inc. - Common Stock 945 Direct F2, F3

Explanation of Responses:

Id Content
F1 Represents the vesting (945) and payout (1,389) of the second tranche (1/3) of the market stock units (MSU) granted on March 8, 2021 at 147% payout factor and such payment includes 444 shares which were above the target number of shares originally reported.
F2 Each market stock unit ("MSU") converts into shares of common stock on a 1-for-1 basis but the number of MSUs earned varies from 0% to 200% of the target number of MSUs based on the average of the closing price of the Company's common stock on the date of grant and the thirty calendar days immediately preceding the date of grant (referred to as Share Price on Date of Grant) as compared to the closing share price of the Company's common stock on the vesting date and the thirty calendar days immediately preceding the vesting date (referred to as Share Price on Vesting Date). The target number of MSUs is reported in this Report.
F3 One third of the MSU award will vest on each of the first, second and third anniversaries of the date of grant and will be converted into shares of common stock based on a payout factor, provided that the MSUs will only vest if the Share Price on the Vesting Date equals at least 60% of the Share Price on the Date of Grant.