Jason Les - Feb 17, 2022 Form 4 Insider Report for Riot Blockchain, Inc. (RIOT)

Role
Chief Executive Officer, Director
Signature
/s/ Jason Les
Stock symbol
RIOT
Transactions as of
Feb 17, 2022
Transactions value $
-$3,402,103
Form type
4
Date filed
2/22/2022, 03:34 PM
Previous filing
Jan 18, 2022
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 +100K +37.59% $0.00 366K Feb 17, 2022 See Footnote F1, F2, F3
transaction RIOT Common Stock Tax liability -$987K -50K -13.66% $19.73 316K Feb 17, 2022 See Footnote F2, F3, F4
transaction RIOT Common Stock Options Exercise $0 +245K +77.48% $0.00 561K Feb 17, 2022 See Footnote F1, F2, F3
transaction RIOT Common Stock Tax liability -$2.42M -122K -21.83% $19.73 438K Feb 17, 2022 See Footnote F2, F3, 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 Options Exercise $0 -100K -29% $0.00 245K Feb 17, 2022 Common Stock 100K $0.00 Direct F2, F3, F5
transaction RIOT Restricted Stock Units Options Exercise $0 -245K -100% $0.00* 0 Feb 17, 2022 Common Stock 249K $0.00 Direct F2, F3, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Vested Restricted Stock Units ("RSUs") awarded to the Reporting Person as compensation 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 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 Shares held of record in trust by Jason M. Les, Trustee of The Jason M. Les Trust, dated March 8, 2021.
F4 Represents net settlement in connection with the conversion of vested RSUs into shares of the Issuer's Common Stock based on the price per share of the Issuer's Common Stock as of the conversion, as permitted under the Plan and approved by the Issuer's Compensation and Human Resources Committee (the "Committee").
F5 Represents the settlement for taxes by the Issuer of 100,000 vested performance-based RSUs, which vested upon the Committee's certification of the Issuer's achievement of certain of the performance objectives detailed in the August 12, 2021 performance-based equity award agreement between the Reporting Person and the Issuer.
F6 Represents the settlement by the Issuer of the following vested time-based RSU awards granted to the Reporting Person under the Plan: (i) 288,617 RSUs granted on February 27, 2020, as compensation for the Reporting Person's service as a member of the Issuer's Board of Directors for Fiscal Years 2019 and 2020, which vested and became eligible for settlement as of February 15, 2022; (ii) 25,000 RSUs granted on February 8, 2021, pursuant to the Reporting Person's Executive Employment Agreement with the Issuer, which vested in equal quarterly intervals following the grant date.