Justin Jacobs - May 9, 2024 Form 4 Insider Report for NATURAL GAS SERVICES GROUP INC (NGS)

Role: Chief Executive Officer, Director
Signature: Justin Jacobs
Stock symbol: NGS
Transactions as of: May 9, 2024
Transactions value $: $0
Form type: 4
Date filed: 5/13/2024, 05:03 PM
Previous filing: Jan 31, 2024
Next filing: Jun 18, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NGS	Common Stock	Other	$0	-6.86K	-72.4%	$0.00	2.61K	May 9, 2024	Direct	F1
transaction	NGS	Common Stock	Disposed to Issuer	$0	-2.25K	-86.15%	$0.00	362	May 9, 2024	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the exempt vesting of Restricted Stock Units previously granted by the Issuer and subsequent transfer of such vested shares to Mill Road Capital Management, LLC ("Mill Road"). The RSUs were granted as compensation for serving as a member of the Issuer's board of directors. At the time of grant, the Reporting Person ("RP") was an employee of Mill Road and he was serving on the Issuer's Board pursuant to a right of appointment held by Mill Road in connection with a Cooperation Agreement with the Issuer. Pursuant to a pre-existing contractual obligation, Mill Road has the right to receive the economic benefit of the reported vested shares. On January 29, 2024, the RP terminated his employment with Mill Road and on February 12, 2024, began employment as the Issuer's Chief Executive Officer. In connection with the contractual obligation noted above, these shares are in the process of being transferred by the RP to Mill Road for no consideration,
F2	See footnote #1 above, in connection with the Reporting Person's employment with the Issuer and therefore no longer qualifying as an independent director, these shares are deemed to have not vested.

Content

Represents the exempt vesting of Restricted Stock Units previously granted by the Issuer and subsequent transfer of such vested shares to Mill Road Capital Management, LLC ("Mill Road"). The RSUs were granted as compensation for serving as a member of the Issuer's board of directors. At the time of grant, the Reporting Person ("RP") was an employee of Mill Road and he was serving on the Issuer's Board pursuant to a right of appointment held by Mill Road in connection with a Cooperation Agreement with the Issuer. Pursuant to a pre-existing contractual obligation, Mill Road has the right to receive the economic benefit of the reported vested shares. On January 29, 2024, the RP terminated his employment with Mill Road and on February 12, 2024, began employment as the Issuer's Chief Executive Officer. In connection with the contractual obligation noted above, these shares are in the process of being transferred by the RP to Mill Road for no consideration,

See footnote #1 above, in connection with the Reporting Person's employment with the Issuer and therefore no longer qualifying as an independent director, these shares are deemed to have not vested.