Rajan Naik - Mar 13, 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 13, 2023
Transactions value $: -$372,288
Form type: 4
Date filed: 3/15/2023, 04:21 PM
Previous filing: Mar 13, 2023
Next filing: Jun 12, 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	-$147K	-563	-4.16%	$261.15	13K	Mar 13, 2023	Direct	F1
transaction	MSI	Motorola Solutions, Inc. - Common Stock	Options Exercise	$0	+2.26K	+17.41%	$0.00	15.2K	Mar 13, 2023	Direct	F2
transaction	MSI	Motorola Solutions, Inc. - Common Stock	Tax liability	-$225K	-863	-5.67%	$261.15	14.4K	Mar 13, 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	-1.49K	-100%	$0.00^*	0	Mar 13, 2023	Motorola Solutions, Inc. - Common Stock	1.49K		Direct	F3, F4
transaction	MSI	Performance Options	Award	$0	+11.2K		$0.00	11.2K	Mar 13, 2023	Motorola Solutions, Inc. - Common Stock	11.2K	$154.95	Direct	F5

* 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	Represents the vesting (1,485) and payout (2,257) 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 772 shares which were above the target number of shares originally reported.
F3	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.
F4	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.
F5	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 objectives. On March 13, 2023, the Company determined that, based on the Company's performance over the applicable performance period, 11,243 options would vest.