Brown Gregory Q - Mar 13, 2023 Form 4 Insider Report for Motorola Solutions, Inc. (MSI)

Role
Chairman and CEO, Director
Signature
Kristin L. Kruska, on behalf of Gregory Q. Brown, Chairman and Chief Executive Officer (Power of Attorney on File)
Stock symbol
MSI
Transactions as of
Mar 13, 2023
Transactions value $
-$6,523,063
Form type
4
Date filed
3/15/2023, 04:19 PM
Previous filing
Mar 13, 2023
Next filing
May 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MSI Motorola Solutions, Inc. - Common Stock Tax liability -$4.07M -15.6K -16.34% $261.15 79.7K Mar 13, 2023 Direct F1, F2
transaction MSI Motorola Solutions, Inc. - Common Stock Options Exercise $0 +21.2K +26.62% $0.00 101K Mar 13, 2023 Direct F2, F3
transaction MSI Motorola Solutions, Inc. - Common Stock Tax liability -$2.46M -9.41K -9.32% $261.15 91.6K Mar 13, 2023 Direct F2
holding MSI Motorola Solutions, Inc. - Common Stock 2.22K Mar 13, 2023 Held by wife
holding MSI Motorola Solutions, Inc. - Common Stock 81K Mar 13, 2023 By Trust F4
holding MSI Motorola Solutions, Inc. - Common Stock 78.8K Mar 13, 2023 By Trust F5
holding MSI Motorola Solutions, Inc. - Common Stock 24.7K Mar 13, 2023 By Trust F6
holding MSI Motorola Solutions, Inc. - Common Stock 22.5K Mar 13, 2023 By Trust F7
holding MSI Motorola Solutions, Inc. - Common Stock 53.6K Mar 13, 2023 2021 Grantor Retained Annuity Trust, reporting person is the Trustee
holding MSI Motorola Solutions, Inc. - Common Stock 102K Mar 13, 2023 2022-1 Grantor Retained Annuity Trust, reporting person is the Trustee

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 -14K -100% $0.00* 0 Mar 13, 2023 Motorola Solutions, Inc. - Common Stock 14K Direct F8, F9
transaction MSI Performance Options Award $0 +106K $0.00 106K Mar 13, 2023 Motorola Solutions, Inc. - Common Stock 106K $154.95 Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the shares withheld by the Company to satisfy the tax withholding requirement upon settlement (on March 13, 2023 per the award terms) of performance stock units, which were determined to be earned on February 24, 2023 based on performance results for the applicable performance period, as previously reported on a Form 4 as of February 28, 2023.
F2 Includes shares acquired under the Motorola Solutions Employee Stock Purchase Plan and through the reinvestment of dividends.
F3 Represents the vesting (13,966) and payout (21,228) of the third tranche (1/3) of the market stock units ("MSU") granted on March 13, 2020 at 152% payout factor and such payment includes 7,262 shares which were above the target number of shares originally reported.
F4 These shares are held in an irrevocable trust for the benefit of the reporting person's wife and children. The reporting person's wife is trustee of this trust.
F5 These shares are held in a family trust for the benefit of the reporting person's children. The reporting person's child is trustee of this trust.
F6 These shares are held in a non-exempt gift trust for the benefit of the reporting person's child. The reporting person's wife is trustee of this trust.
F7 These shares are held in a non-exempt gift trust for the benefit of the reporting person's child. The reporting person's wife is trustee of this trust.
F8 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.
F9 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.
F10 Represents the vesting of performance based stock options granted to the reporting person on March 13, 2020 that were eligible to vest on the third anniversary date of the grant or March 13, 2023 based on the satisfaction of certain financial performance objective. On March 13, 2023, the Company determined that, based on the Company's performance over the applicable performance period, 105,691 options would vest.