Karla Lunan - Mar 4, 2022 Form 4 Insider Report for TILE SHOP HOLDINGS, INC. (TTSH)

Role
Chief Financial Officer
Signature
/s/ Karla Lunan
Stock symbol
TTSH
Transactions as of
Mar 4, 2022
Transactions value $
$0
Form type
4
Date filed
3/8/2022, 12:14 PM
Previous filing
Jan 11, 2022
Next filing
Mar 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TTSH Common Stock Award $0 +10.3K $0.00 10.3K Mar 4, 2022 Direct F1
transaction TTSH Common Stock Award $0 +20.5K +200.01% $0.00 30.8K Mar 4, 2022 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 10,274 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 20,549 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) Ms. Lunan 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) 10,274 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 (ii) 20,549 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, subject to Ms. Lunan 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. The Issuer's proxy statement contains additional information regarding the applicable performance targets.