Charles Wert - Jul 7, 2022 Form 4 Insider Report for GTY Technology Holdings Inc. (GTYH)

Role
Director
Signature
/s/ Jon C. Bourne, Attorney-in-Fact
Stock symbol
GTYH
Transactions as of
Jul 7, 2022
Transactions value $
$0
Form type
4
Date filed
7/7/2022, 04:33 PM
Previous filing
Aug 27, 2021
Next filing
Sep 29, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GTYH Common Stock Disposed to Issuer -123K -100% 0 Jul 7, 2022 Direct F1

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 GTYH Restricted Stock Units Disposed to Issuer -17.9K -100% 0 Jul 7, 2022 Common Stock 17.9K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Charles Wert is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On July 7, 2022, pursuant to the agreement and plan of merger by and among the issuer, GI Georgia Midco, Inc. ("Parent") and GI Georgia Merger Sub Inc. ("Merger Sub"), dated as of April 28, 2022 (the "merger agreement"), Merger Sub merged with and into the issuer (the "merger"), with the issuer surviving the merger as a wholly owned subsidiary of Parent. Pursuant to the merger agreement, at the effective time of the merger, the shares of the issuer's common stock converted into the right to receive $6.30 per share in cash (the "merger consideration").
F2 Each restricted stock unit ("RSU") represented a contingent right to receive one share of the issuer's common stock.
F3 These RSUs (i) would have vested on August 26, 2022, subject to the reporting person's continuing service as a director of the issuer at such time and (ii) could have been settled in shares of the issuer's common stock or cash. Pursuant to the merger agreement, these RSUs, which provided for vesting within 12 months following the effective time of the merger, were cancelled and converted into the right to receive the merger consideration per underlying share.