Jeffrey Mcgonegal - Sep 12, 2022 Form 4 Insider Report for Riot Blockchain, Inc. (RIOT)

Role: Chief Financial Officer
Signature: /s/ Alexander K. Travis, Attorney-in-Fact for Jeffrey G. McGonegal
Stock symbol: RIOT
Transactions as of: Sep 12, 2022
Transactions value $: -$32,734
Form type: 4
Date filed: 9/14/2022, 08:45 PM
Previous filing: Jul 18, 2022
Next filing: Sep 29, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RIOT	Common Stock	Options Exercise	$0	+9.67K	+2.86%	$0.00	347K	Sep 12, 2022	Direct	F1, F2
transaction	RIOT	Common Stock	Tax liability	-$32.7K	-3.96K	-1.14%	$8.26	343K	Sep 12, 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	-9.67K	-65.91%	$0.00	5K	Sep 12, 2022	Common Stock	9.67K	$0.00	Direct	F1, F2, F4

* 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") each performance-based restricted stock unit ("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. Pursuant to the Plan, PSUs are subject to forfeiture until vested, and are contingent on the Recipient's continued employment or service with the Issuer through vesting.
F2	Represents the total direct and indirect beneficial 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 PSUs into shares of the Issuer's Common Stock noted in Table II of this Report, as permitted by the Plan and approved by the Committee.
F4	Represents the settlement following vesting of 9,666 PSUs granted, as of August 12, 2021, to the Reporting Person under the Plan, which vested upon the Committee's determination that the performance criteria corresponding to 9,666 PSUs had been achieved.