C. Randal Mills - Jun 21, 2022 Form 4 Insider Report for AZIYO BIOLOGICS, INC. (AZYO)

Signature
/s/ Jeffrey Hamet, Attorney-in-Fact for C Randal Mills
Stock symbol
AZYO
Transactions as of
Jun 21, 2022
Transactions value $
$0
Form type
4
Date filed
6/23/2022, 04:06 PM
Previous filing
Jun 9, 2022
Next filing
Apr 28, 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 AZYO Stock Option (Right to Buy) Award $0 +274K $0.00 274K Jun 21, 2022 Class A Common Stock 274K $6.39 Direct F1
transaction AZYO Stock Option (Right to Buy) Award $0 +183K $0.00 183K Jun 21, 2022 Class A Common Stock 183K $6.39 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The option vests and becomes exercisable as to one-third of the underlying shares upon the day following the expiration of the Interim Period (as defined in the Reporting Person's Employment Agreement dated June 21, 2022). The remaining two-thirds of the underlying shares vest and become exercisable, with respect to 25% of such shares, on June 21, 2023, and, with respect to 75% of such shares, in twelve equal quarterly installments thereafter, beginning on September 21, 2023, subject to the Reporting Person's continuous employment with the Issuer through the applicable vesting date.
F2 The option vests and becomes exercisable in four equal installments upon the Issuer's achievement of a share price equal to or greater than $12.50, $17.00, $25.00 and $37.00, in each case determined based on twenty consecutive days of trading at or above the applicable threshold, subject to the Reporting Person's continuous employment with the Issuer through the applicable vesting date.