Christopher W. Walters - Jan 27, 2023 Form 4 Insider Report for AVANTAX, INC. (AVTA)

Role
Chief Executive Officer, Director
Signature
/s/ Tabitha T. Bailey, as Attorney-in-Fact
Stock symbol
AVTA
Transactions as of
Jan 27, 2023
Transactions value $
-$594,378
Form type
4
Date filed
1/31/2023, 08:32 PM
Previous filing
Jan 5, 2023
Next filing
May 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTA Common Stock Award $0 +23.2K +6.62% $0.00 374K Jan 27, 2023 Direct F1
transaction AVTA Common Stock Tax liability -$268K -9.14K -2.44% $29.35 365K Jan 27, 2023 Direct F2
transaction AVTA Common Stock Tax liability -$326K -11.2K -3.08% $29.04 353K Jan 30, 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 74,914 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 23,233 shares.
F2 This transaction represents the withholding by the Issuer of shares to pay taxes in connection with the vesting of restricted stock units ("RSUs") or PSUs. The timing and amount of the transaction were determined by the terms of the applicable restricted stock unit award and were not within the control of the reporting person.
F3 Not included in this amount are 404,738 PSUs of which (i) 116,666 are eligible to vest from 0% to 200% following the end of 2023, (ii) 169,683 are eligible to vest from 0% to 200% following the end of 2024 and (iii) 118,389 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.