Don O'Connell - 13 Sep 2021 Form 4 Insider Report for CHARLES & COLVARD LTD (CTHR)

Role: President and CEO, Director
Signature: /s/ Clint J. Pete, Attorney-in-Fact
Issuer symbol: CTHR
Transactions as of: 13 Sep 2021
Net transactions value: $0
Form type: 4
Filing time: 15 Sep 2021, 16:33:35 UTC
Previous filing: 17 Aug 2021
Next filing: 24 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CTHR	Common Stock	Award	$0	+17,500	+5%	$0.000000	367,989	13 Sep 2021	Direct
transaction	CTHR	Common Stock	Award	$0	+97,500	+26%	$0.000000	465,489	15 Sep 2021	Direct	F1

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	CTHR	Phantom Stock	Award	$0	+52,500		$0.000000	52,500	15 Sep 2021	Common Stock	52,500		Direct	F2

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

Explanation of Responses:

Id	Content
F1	Performance-based restricted stock will vest, subject to achievement of performance goals, on July 31, 2022, pursuant to Charles & Colvard, Ltd.'s Fiscal 2022 Senior Management Equity Incentive Program (the "Plan").
F2	Performance-based phantom stock is settled in cash and will become payable, subject to the achievement of performance goals set forth in the Plan, on July 31, 2022. Each share of phantom stock is the economic equivalent of one share of Common Stock. The shares of phantom stock do not confer any stock ownership rights and become payable solely in cash based on the closing price of Charles & Colvard, Ltd.'s Common Stock on the Vesting Date, determined under the terms of the Plan.

Content

Performance-based restricted stock will vest, subject to achievement of performance goals, on July 31, 2022, pursuant to Charles & Colvard, Ltd.'s Fiscal 2022 Senior Management Equity Incentive Program (the "Plan").

Performance-based phantom stock is settled in cash and will become payable, subject to the achievement of performance goals set forth in the Plan, on July 31, 2022. Each share of phantom stock is the economic equivalent of one share of Common Stock. The shares of phantom stock do not confer any stock ownership rights and become payable solely in cash based on the closing price of Charles & Colvard, Ltd.'s Common Stock on the Vesting Date, determined under the terms of the Plan.