Todd C. Mackay - 27 Jan 2023 Form 4 Insider Report for AVANTAX, INC.

Role
President of Wealth Mgmt
Signature
/s/ Ann J. Bruder, as Attorney-in-Fact for Todd C. Mackay
Issuer symbol
N/A
Transactions as of
27 Jan 2023
Net transactions value
-$49,836
Form type
4
Filing time
31 Jan 2023, 20:30:32 UTC
Previous filing
11 Jan 2023
Next filing
23 May 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTA Common Stock Award $0 +3,868 +2.6% $0.000000 152,071 27 Jan 2023 Direct F1
transaction AVTA Common Stock Tax liability $49,836 -1,698 -1.1% $29.35 150,373 27 Jan 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 9, 2020, the reporting person was granted 12,480 performance-based restricted stock units ("PSUs"), which were eligible to vest from 0% to 200% at the end of a three-year performance period based on the Issuer's satisfaction of certain performance criteria. The performance criteria were partially met, resulting in the vesting of 3,868 shares.
F2 This transaction represents the withholding by the Issuer of shares to pay taxes in connection with the vesting of PSUs. The timing and amount of the transaction were determined by the terms of the applicable PSU award and were not within the control of the reporting person.
F3 Not included in this amount are 77,943 PSUs of which (i) 23,333 are eligible to vest from 0% to 200% following the end of 2023, (ii) 31,702 are eligible to vest from 0% to 200% following the end of 2024 and (iii) 22,908 are eligible to vest from 0% to 200% following the end of 2025. Vesting for each award is subject to the Issuer's achievement of certain performance criteria and certification by the Compensation Committee.