RAJAN NAIK - 08 Mar 2024 Form 4 Insider Report for Motorola Solutions, Inc. (MSI)

Signature
Alejandro Dieguez, on behalf of Rajan S. Naik, Senior Vice President, Strategy & Ventures (Power of Attorney on File)
Issuer symbol
MSI
Transactions as of
08 Mar 2024
Net transactions value
-$1,458,037
Form type
4
Filing time
12 Mar 2024, 16:12:09 UTC
Previous filing
23 Feb 2024
Next filing
18 Mar 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MSI Motorola Solutions, Inc. - Common Stock Tax liability $884,324 -2,637 -18% $335.41 12,148 08 Mar 2024 Direct F1
transaction MSI Motorola Solutions, Inc. - Common Stock Options Exercise $0 +1,719 +14% $0.000000 13,867 08 Mar 2024 Direct F2
transaction MSI Motorola Solutions, Inc. - Common Stock Tax liability $262,702 -783 -5.6% $335.41 13,084 08 Mar 2024 Direct
transaction MSI Motorola Solutions, Inc. - Common Stock Options Exercise $0 +921 +7% $0.000000 14,005 09 Mar 2024 Direct F3
transaction MSI Motorola Solutions, Inc. - Common Stock Tax liability $139,320 -415 -3% $335.41 13,590 09 Mar 2024 Direct
transaction MSI Motorola Solutions, Inc. - Common Stock Options Exercise $0 +1,135 +8.4% $0.000000 14,725 10 Mar 2024 Direct F4
transaction MSI Motorola Solutions, Inc. - Common Stock Tax liability $171,691 -512 -3.5% $335.41 14,213 10 Mar 2024 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 Performance Options Award $0 +17,344 $0.000000 17,344 08 Mar 2024 Motorola Solutions, Inc. - Common Stock 17,344 $179.21 Direct F5
transaction MSI Market Stock Units Options Exercise $0 -945 -100% $0.000000* 0 08 Mar 2024 Motorola Solutions, Inc. - Common Stock 945 Direct F6, F7
transaction MSI Market Stock Units Options Exercise $0 -743 -33% $0.000000 1,484 09 Mar 2024 Motorola Solutions, Inc. - Common Stock 743 Direct F6, F7
transaction MSI Market Stock Units Options Exercise $0 -762 -50% $0.000000 762 10 Mar 2024 Motorola Solutions, Inc. - Common Stock 762 Direct F6, F7
* 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 8, 2024 per the award terms) of performance stock units, which were determined to be earned on February 21, 2024 based on performance results for the applicable performance period, as previously reported on a Form 4 as of February 23, 2024.
F2 Represents the vesting (945) and payout (1,719) of the third tranche (1/3) of the market stock units (MSU) granted on March 8, 2021 at 182% payout factor and such payment includes 774 shares which were above the target number of shares originally reported.
F3 Represents the vesting (743) and payout (921) of the first tranche (1/3) of the market stock units (MSU) granted on March 9, 2023 at 124% payout factor and such payment includes 178 shares which were above the target number of shares originally reported.
F4 Represents the vesting (762) and payout (1,135) of the second tranche (1/3) of the market stock units (MSU) granted on March 10, 2022 at 149% payout factor and such payment includes 373 shares which were above the target number of shares originally reported.
F5 Represents the vesting of performance based stock options granted to the reporting person on March 8, 2021 that were eligible to vest on the third anniversary date of the grant or March 8, 2024 based on the satisfaction of certain financial performance objectives. On March 8, 2024, the Company determined that, based on the Company's performance over the applicable performance period, 17,344 options would vest.
F6 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.
F7 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.