Lyle Joseph Theriot - Apr 13, 2022 Form 4 Insider Report for Riot Blockchain, Inc. (RIOT)

Role
Officer
Signature
/s/ Lyle Joseph Theriot
Stock symbol
RIOT
Transactions as of
Apr 13, 2022
Transactions value $
$0
Form type
4
Date filed
4/15/2022, 05:58 PM
Previous filing
Jan 18, 2022
Next filing
Jul 18, 2022

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 +14K +562.7% $0.00 16.5K Apr 13, 2022 Common Stock 14K $0.00 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended, (the "Plan") the Reporting Person was granted performance-based restricted stock unit ("PSUs") as of August 12, 2021, which are eligible to vest contingent upon the Issuer's achievement of certain performance criteria during the performance period ending on December 31, 2023. Each PSU represents a contingent right to receive one share of the Issuer's common stock, no par value per share, ("Common Stock") subject to any net settlement permitted under the Plan and approved by the Issuer's Compensation and Human Resources Committee (the "Committee"), following vesting and settlement by the Issuer.
F2 On April 13, 2022, the Committee determined that the performance criteria corresponding to 14,000 PSUs had been achieved as of March 31, 2022. Therefore, 14,000 of the PSUs originally awarded to the Reporting Person became vested as of April 13, 2022. Upon vesting, the Issuer records PSUs as Restricted Stock Units, which are eligible to be settled by the Issuer in shares of its Common Stock on a one-for-one basis, subject to any net settlement for taxes as permitted under the Plan and as approved by the Committee. Accordingly, the award of 14,000 Restricted Stock Units reported on this Form 4 represents the vesting of 14,000 PSUs awarded to the Reporting Person on August 12, 2021.
F3 Represents the total direct and indirect beneficial ownership of the indicated security held by the Reporting Person immediately following the reported transaction.

Remarks:

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