Rajan Naik - Mar 9, 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 9, 2023
Transactions value $: -$75,274
Form type: 4
Date filed: 3/13/2023, 05:07 PM
Previous filing: Mar 10, 2023
Next filing: Mar 15, 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	+923	+7.16%	$0.00	13.8K	Mar 10, 2023	Direct	F1
transaction	MSI	Motorola Solutions, Inc. - Common Stock	Tax liability	-$75.3K	-288	-2.08%	$261.48	13.5K	Mar 10, 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	Award	$0	+2.23K		$0.00	2.23K	Mar 9, 2023	Motorola Solutions, Inc. - Common Stock	2.23K		Direct	F2, F3
transaction	MSI	Market Stock Units	Options Exercise	$0	-763	-33.36%	$0.00	1.52K	Mar 10, 2023	Motorola Solutions, Inc. - Common Stock	763		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	Represents the vesting (763) and payout (923) of the first tranche (1/3) of the market stock units (MSU) granted on March 10, 2022 at 121% payout factor and such payment includes 160 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.