Christopher W. Walters - May 23, 2023 Form 4 Insider Report for AVANTAX, INC. (AVTA)

Signature
/s/ Tabitha T. Bailey, as Attorney-in-Fact for Christopher W. Walters
Stock symbol
AVTA
Transactions as of
May 23, 2023
Transactions value $
-$78,350
Form type
4
Date filed
5/25/2023, 04:32 PM
Previous filing
May 23, 2023
Next filing
Nov 29, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTA Common Stock Options Exercise $139K +15.6K +4.47% $8.96 364K May 23, 2023 Direct F1
transaction AVTA Common Stock Tax liability -$218K -10K -2.75% $21.75 354K May 23, 2023 Direct F1, F2

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 AVTA Stock Option (Right to Buy) Options Exercise $0 -15.6K -100% $0.00* 0 May 23, 2023 Common Stock 15.6K $8.96 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a "net exercise" of outstanding stock options. The reporting person received 5,553 shares of common stock of the Issuer upon a net exercise of an option to purchase 15,569 shares of common stock. The reporting person forfeited 10,016 shares of common stock underlying the option in payment of the exercise price of $8.96 and applicable taxes withheld using the closing stock price on May 23, 2023 of $21.75.
F2 Not included in this amount are 404,738 performance-based Restricted Stock Units 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 financial goals and certification by the Compensation Committee of the board of directors of the Issuer.