JOSEPH KINDER - 04 Mar 2022 Form 4 Insider Report for TILE SHOP HOLDINGS, INC. (TTSH)

Signature
/s/ Joseph Kinder
Issuer symbol
TTSH
Transactions as of
04 Mar 2022
Net transactions value
$0
Form type
4
Filing time
08 Mar 2022, 12:11:44 UTC
Previous filing
04 Mar 2022
Next filing
17 Mar 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TTSH Common Stock Award $0 +7,706 +11% $0.000000 78,633 04 Mar 2022 Direct F1
transaction TTSH Common Stock Award $0 +15,411 +20% $0.000000 94,044 04 Mar 2022 Direct F2, F3, F4
holding TTSH Common Stock 1,100 04 Mar 2022 By Spouse

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
holding TTSH Stock Option (Right to Buy) 26,900 04 Mar 2022 Common Stock 26,900 $8.50 Direct F5
holding TTSH Stock Option (Right to Buy) 50,000 04 Mar 2022 Common Stock 50,000 $8.80 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 7,706 shares of restricted stock for which the risks of forfeiture will lapse in three equal annual installments on each of 3/4/23, 3/4/24 and 3/4/25, subject to continuous employment as of the applicable vesting date.
F2 Represents 15,411 shares of performance-based restricted stock for which the risks of forfeiture will lapse as to 30% of the shares on the date the Issuer files its annual report for the year ending December 31, 2022, 30% of the shares on the date the Issuer files its annual report for the year ending December 31, 2023, and 40% of the shares on the date the Issuer files its annual report for the year ending December 31, 2024, subject to (i) Mr. Kinder remaining in continuous employment with the Issuer prior to and as of December 31 of the year preceding the applicable vesting date and (ii) the Issuer achieving 18%, 20%, and 21% pre-tax return on capital employed (as such results are reported in the Issuer's annual report for the applicable year) for each respective year.
F3 Includes (i) 42,741 shares of restricted stock for which the risks of forfeiture will lapse as to 14,247 shares on each of 3/16/22, 3/16/23 and 3/16/24; (ii) 7,607 shares of restricted stock for which the risks of forfeiture will lapse as to 2,535 shares on 3/15/22 and 2,536 shares on each of 3/15/23 and 3/15/24; (iii) 7,706 shares of restricted stock for which the risks of forfeiture will lapse in three equal annual installments on each of 3/4/23, 3/4/24 and 3/4/25; and
F4 (iv) the following shares of performance-based restricted stock, which are, in each case, subject to Mr. Kinder 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: (A) 10,649 shares of performance-based restricted stock for which the risks of forfeiture will lapse as to 4,564 and 6,085 shares on each of the dates that the Issuer files its annual report for the years ending December 31, 2022 and 2023, respectively, and (B) 15,411 shares of performance-based restricted stock for which the risks of forfeiture will lapse as to 30%, 30% and 40% of the shares on each of the dates that the Issuer files its annual report for the years ending December 31, 2022, 2023 and 2024, respectively. The Issuer's proxy statement contains additional information regarding the applicable performance targets.
F5 Fully exercisable.

Remarks:

SVP, Supply Chain & Distribution