Marc A. Beilinson - Aug 16, 2022 Form 4 Insider Report for Exela Technologies, Inc. (XELA)

Role: Director
Signature: /s/ Marc Beilinson
Stock symbol: XELA
Transactions as of: Aug 16, 2022
Transactions value $: $0
Form type: 4
Date filed: 8/18/2022, 09:52 PM
Previous filing: Jun 2, 2022
Next filing: Feb 10, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	XELA	Common Stock, par value $0.0001 per share						3.58K	Aug 16, 2022	Direct	F3

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	XELA	Restricted Stock Units	Options Exercise	$0	-6.25K	-100%	$0.00^*	0	Aug 16, 2022	Common Stock	6.25K		Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On December 31, 2021, the reporting person was granted 6,250 restricted stock units in accordance with the Company's Amended and Restated Stock 2018 Incentive Plan ("Plan") that were settled in January 2022. The Plan was approved by the stockholders of the Company at the Company's 2021 annual meeting held December 31, 2021. Subsequent to such approval, a lawsuit was filed against the Company alleging that the Company did not properly count the broker non-votes on such matter, and that as a result the Plan was not properly approved at the 2021 annual meeting. The Company decided to re-submit the Plan to its stockholders for re-approvals at its 2022 annual meeting rather than incurring the expense of pursuing litigation. Following the re-approval of the amended and restated Plan at the 2022 annual meeting, the Compensation Committee determined that the restricted stock units be settled in cash effective August 16, 2022.
F2	Each restricted stock unit represents the right to receive, following vesting, one share of Common Stock, which may be settled in shares of Common Stock or cash, as elected by the Compensation Committee of the Board of Directors of the Company.
F3	The number of shares reported in this Form 4 account for the one-for-twenty Reverse Stock Split effected by the Issuer on July 26, 2022. No fractional shares were issued in connection with the Reverse Stock Split. Stockholders who otherwise were entitled to receive fractional shares of Common Stock received cash (without interest or deduction) from the Corporation's transfer agent in lieu of such fractional share interests.