Sean Macdonald - Dec 13, 2022 Form 4 Insider Report for Leatt Corp (LEAT)

Role: Director
Signature: /s/ Sean Macdonald
Stock symbol: LEAT
Transactions as of: Dec 13, 2022
Transactions value $: $376,253
Form type: 4
Date filed: 3/31/2023, 09:28 AM
Previous filing: Jul 21, 2022
Next filing: Apr 5, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LEAT	Common Stock, par value $0.001 per share	Tax liability	$32.4K	+20.2K	+10.74%	$1.60^*	209K	Dec 13, 2022	Direct	F1
transaction	LEAT	Common Stock, par value $0.001 per share	Tax liability	$159K	+69K	+33.06%	$2.30^*	278K	Dec 13, 2022	Direct	F2
transaction	LEAT	Common Stock, par value $0.001 per share	Award	$185K	+10K	+3.6%	$18.51	288K	Dec 20, 2022	Direct	F3

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

Explanation of Responses:

Id	Content
F1	On August 24, 2017, the Issuer's Board of Directors approved a grant to the Reporting Person, of a ten-year option to purchase 78,000 shares of the Issuer's common stock at $1.60 per share under the 2011 Plan, which vested in full on December 31, 2019. On December 13, 2022, the Reporting Person exercised his option to purchase 22,000 of these shares at an aggregate exercise price of $35,200. The purchase price was paid through a cashless transaction whereby the Issuer withheld 1,760 of the shares at the fair market value of $20 per share, in lieu of cash payment and the Reporting person received the remaining 20,240 shares.
F2	On February 25, 2019, the Issuer's Board of Directors approved a grant to the Reporting Person, of a ten-year option to purchase 78,000 shares of the Issuer's common stock at $2.30 per share under the 2011 Amended and Restated Equity Incentive Plan ("2011 Plan"), which vested in full on February 25, 2022. On December 13, 2022, the Reporting Person exercised his option to purchase these shares at an aggregate exercise price of $179,400. The purchase price was paid through a cashless transaction whereby the Issuer withheld 8,970 of the shares at the fair market value of $20 per share, in lieu of cash payment and the Reporting person received the remaining 69,030 shares.
F3	On December 20, 2022, the Issuer's Board approved the award of 10,000 restricted shares of the Issuer's common stock to the Reporting Person, pursuant to a Restricted Stock Award Agreement, under the Issuer's 2011 Plan, all of which vested on December 31, 2022. The Reporting Person is now the holder of 287,809 shares of the Issuer's common stock.