Matthew Stecker - Jan 21, 2022 Form 4 Insider Report for EVOLVING SYSTEMS INC (EVOL)

Role
Chief Executive Officer, Director
Signature
/s/ Matthew Stecker
Stock symbol
EVOL
Transactions as of
Jan 21, 2022
Transactions value $
$141
Form type
4
Date filed
1/25/2022, 05:22 PM
Previous filing
Jul 12, 2021
Next filing
Aug 9, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EVOL Common Stock Award $150 +150K +500% $0.00* 180K Jan 21, 2022 Direct F1, F2
transaction EVOL Common Stock Tax liability -$9 -9K -5% $0.00* 171K Jan 21, 2022 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This is a grant of restricted stock vesting over a three-year period, with one-third vesting on January 21, 2022; one-third vesting on January 21, 2023, and one-third vesting on January 21, 2024. The stock will vest immediately on a Change of Control of the company.
F2 Nominal consideration of par value ($0.001) per share was paid for the restricted stock.
F3 Represents the forfeiture of 9,000 performance-based restricted stock awards of 30,000 awards granted to the reporting person on March 11, 2017 that were eligible to vest based on certain financial performance objectives. Upon grant, the target vesting amount was reported in Table I of Form 4. On December 31, 2021, the Company determined that, based on the Company's performance over the applicable performance period, 21,000 stock awards would vest and 9,000 stock awards would be forfeited.