Nancy DiMattia - Oct 23, 2021 Form 4 Insider Report for TILE SHOP HOLDINGS, INC. (TTSH)

Role: Chief Financial Officer
Signature: /s/ Nancy DiMattia
Stock symbol: TTSH
Transactions as of: Oct 23, 2021
Transactions value $: -$32,140
Form type: 4
Date filed: 10/25/2021, 04:09 PM
Next filing: Feb 9, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TTSH	Common Stock	Tax liability	-$32.1K	-4.11K	-3.73%	$7.82	106K	Oct 23, 2021	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The reporting person has elected to satisfy her tax withholding obligation in connection with the vesting of a prior restricted stock grant by directing the Issuer to withhold shares otherwise issuable upon vesting of the previously reported grant.
F2	Includes (i) 28,736 shares of restricted stock for which the risks of forfeiture will lapse as to 14,368 shares on each of 10/23/22 and 10/23/23; (ii) 21,370 shares of restricted stock for which the risks of forfeiture will lapse as to 7,124 shares on 3/16/22 and 7,123 shares on each of 3/16/23 and 3/16/24; (iii) 10,143 shares of restricted stock for which the risks of forfeiture will lapse as to 3,381 shares on each of 3/15/22, 3/15/23 and 3/15/24; and (iv) 20,285 shares of performance-based restricted stock for which the risks of forfeiture will lapse in three installments of 6,085, 6,085 and 8,115 on each of the dates that the Issuer files its annual report for the years ending December 31, 2021, 2022 and 2023, respectively, subject to Ms. DiMattia remaining in continuous employment with the Issuer prior to and as of December 31 of the year preceding the applicable vesting date and the Issuer achieving its performance target for each respective year.

Content

The reporting person has elected to satisfy her tax withholding obligation in connection with the vesting of a prior restricted stock grant by directing the Issuer to withhold shares otherwise issuable upon vesting of the previously reported grant.

Includes (i) 28,736 shares of restricted stock for which the risks of forfeiture will lapse as to 14,368 shares on each of 10/23/22 and 10/23/23; (ii) 21,370 shares of restricted stock for which the risks of forfeiture will lapse as to 7,124 shares on 3/16/22 and 7,123 shares on each of 3/16/23 and 3/16/24; (iii) 10,143 shares of restricted stock for which the risks of forfeiture will lapse as to 3,381 shares on each of 3/15/22, 3/15/23 and 3/15/24; and (iv) 20,285 shares of performance-based restricted stock for which the risks of forfeiture will lapse in three installments of 6,085, 6,085 and 8,115 on each of the dates that the Issuer files its annual report for the years ending December 31, 2021, 2022 and 2023, respectively, subject to Ms. DiMattia remaining in continuous employment with the Issuer prior to and as of December 31 of the year preceding the applicable vesting date and the Issuer achieving its performance target for each respective year.