Lance Kian Granmayeh - Jan 6, 2022 Form 4 Insider Report for TELLURIAN INC. /DE/ (TELL)

Role
CFO
Signature
/s/ Daniel Belhumeur under Power of Attorney by Lance Kian Granmayeh
Stock symbol
TELL
Transactions as of
Jan 6, 2022
Transactions value $
$0
Form type
4
Date filed
1/11/2022, 08:50 PM
Previous filing
Feb 11, 2022
Next filing
Mar 16, 2023

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 TELL Restricted Stock Units Award $0 +175K $0.00 175K Jan 6, 2022 Common Stock 175K Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of common stock of Tellurian Inc. ("Tellurian"), cash of equal value, or a combination of both. Pursuant to the Reporting Person's restricted stock unit agreement under the Tellurian Inc. Amended and Restated 2016 Omnibus Incentive Compensation Plan, each restricted stock unit must be settled no later than 30 days after the date of vesting.
F2 The restricted stock units vest as follows: (i) 58,314 units upon the affirmative final investment decision by the board of directors of Tellurian with respect to the Driftwood LNG project (the "FID Date"), (ii) 58,314 units upon the one-year anniversary of the FID Date, and (iii) 58,314 units upon the two-year anniversary of the FID Date.
F3 In the event that the Reporting Person's employment with Tellurian or its affiliates is terminated due to the Reporting Person's death or disability, or by Tellurian without "Cause" (as defined in the restricted stock unit agreement), any unvested restricted stock units will remain outstanding and eligible to vest based on the original vesting schedule, provided that if the FID Date has not occurred as of the date of the Reporting Person's termination of employment and does not occur within one year following such termination, any unvested restricted stock units will be forfeited.
F4 In addition, in the event that the Reporting Person's employment with Tellurian or its affiliates is terminated by Tellurian without Cause or by the Reporting Person with "Good Reason" (as defined in the restricted stock unit agreement), in either case within one year following a "Change in Control" (as defined in the restricted stock unit agreement), all unvested restricted stock units will fully vest as of the date of such termination.