Lyle Joseph Theriot - Jan 14, 2022 Form 4 Insider Report for Riot Blockchain, Inc. (RIOT)

Role
Officer
Signature
/s/ Lyle Theriot
Stock symbol
RIOT
Transactions as of
Jan 14, 2022
Transactions value $
-$275,995
Form type
4
Date filed
1/18/2022, 08:41 PM
Previous filing
Dec 7, 2021
Next filing
Apr 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RIOT Common Stock Options Exercise $0 +42K +171.55% $0.00 66.5K Jan 18, 2022 Direct F1, F2
transaction RIOT Common Stock Tax liability -$261K -12.6K -18.95% $20.68 53.9K Jan 18, 2022 Direct F2, F3
transaction RIOT Common Stock Options Exercise $0 +2.49K +4.62% $0.00 56.4K Jan 18, 2022 Direct F1, F2
transaction RIOT Common Stock Tax liability -$15.4K -746 -1.32% $20.68 55.6K Jan 18, 2022 Direct F2, F4

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 RIOT Restricted Stock Units Award $0 +36K +328.02% $0.00 47K Jan 14, 2022 Common Stock 36K $0.00 Direct F1, F2, F5
transaction RIOT Restricted Stock Units Options Exercise $0 -42K -89.41% $0.00 4.98K Jan 18, 2022 Common Stock 42K $0.00 Direct F1, F2, F6
transaction RIOT Restricted Stock Unit Options Exercise $0 -2.49K -49.99% $0.00 2.49K Jan 18, 2022 Common Stock 2.49K $0.00 Direct F1, F2, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Vested restricted stock units ("RSU") and vested performance-based restricted stock units ("PSUs") awarded to the Reporting Person under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended, (the "Plan") are convertible into shares of the Issuer's common stock, no par value per share, ("Common Stock") on a one-for-one basis, subject to any net settlement for taxes permitted under the Plan, upon settlement by the Issuer in accordance with the procedures of the Plan.
F2 Represents the total direct and indirect ownership of the indicated security held by the Reporting Person immediately following the reported transaction.
F3 Represents shares of Common Stock withheld for taxes in connection with the settlement by the Issuer following vesting of 42,000 PSUs previously granted to the Reporting Person under the Plan.
F4 Represents shares of Common Stock withheld for taxes in connection with the settlement by the Issuer following vesting of 2,487 RSUs previously granted to the Reporting Person under the Plan.
F5 On August 12, 2021, the Reporting Person was granted PSUs, which are eligible to vest contingent upon the Issuer's achievement of certain performance criteria during the performance period ending on December 31, 2023. The Committee determined that, as of December 31, 2021, the performance criteria corresponding to 36,000 PSUs had been achieved. Accordingly, the 36,000 PSUs reported on this Form 4 became vested and eligible to be settled by the Issuer as restricted stock units in accordance with the Plan.
F6 The conversion of 42,000 PSUs reported in Table II represents the settling by the Issuer of the vested portion of the PSUs granted to the Reporting Person pursuant to the Award Agreement, which vested upon the Committee's determination that performance criteria corresponding to 42,000 of the PSUs granted to the Reporting Person had been achieved.
F7 The conversion of 2,487 vested RSUs reported in Table II relates to the settlement by the Issuer of the remaining unsettled portion of the 2,487 RSUs granted to the Reporting Person on April 6, 2021, which vested in four quarterly installments after the grant date.

Remarks:

The Reporting Person is the Chief Operating Officer of Whinstone US, Inc., a wholly owned subsidiary of Riot Blockchain, Inc.