Soo il Benjamin Yi - Feb 17, 2022 Form 4 Insider Report for Riot Blockchain, Inc. (RIOT)

Role: Executive Chairman, Director
Signature: /s/ Benjamin Yi
Stock symbol: RIOT
Transactions as of: Feb 17, 2022
Transactions value $: -$3,441,820
Form type: 4
Date filed: 2/22/2022, 03:35 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	+606.06%	$0.00	117K	Feb 17, 2022	Direct	F1, F2
transaction	RIOT	Common Stock	Disposed to Issuer	-$987K	-50K	-42.92%	$19.73	66.5K	Feb 17, 2022	Direct	F1, F2
transaction	RIOT	Common Stock	Options Exercise	$0	+249K	+374.27%	$0.00	315K	Feb 17, 2022	Direct	F1, F2
transaction	RIOT	Common Stock	Disposed to Issuer	-$2.46M	-124K	-39.46%	$19.73	191K	Feb 17, 2022	Direct	F2, F3

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	-28.36%	$0.00	253K	Feb 17, 2022	Common Stock	100K	$0.00	Direct	F1, F2, F3, F4
transaction	RIOT	Restricted Stock Units	Options Exercise	$0	-249K	-98.52%	$0.00	3.75K	Feb 17, 2022	Common Stock	249K	$0.00	Direct	F1, F2, F3, F5

* 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	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").
F4	Represents the settlement 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.
F5	Represents the settlement by the Issuer of the following vested time-based RSU awards granted to the Reporting Person under the Plan: (i) 227,642 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) 10,000 RSUs granted on February 9, 2021, as compensation for the Reporting Person's service as a member of the Issuer's Board of Directors for Fiscal Year 2021, which vested in equal quarterly intervals following the grant date; and (iii) 11,250 RSUs, representing the vested portion of the 15,000 RSUs granted on May 24, 2021 pursuant to the Reporting Person's Executive Employment Agreement with the Issuer, which vest in equal quarterly intervals following the grant date.