Mark B. Davis - Oct 23, 2022 Form 4 Insider Report for TILE SHOP HOLDINGS, INC. (TTSH)

Role
VP Inv. Relations & CAO
Signature
/s/ Mark B. Davis
Stock symbol
TTSH
Transactions as of
Oct 23, 2022
Transactions value $
-$17,412
Form type
4
Date filed
10/25/2022, 06:24 PM
Previous filing
Mar 17, 2022
Next filing
Feb 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TTSH Common Stock Tax liability -$17.4K -4.4K -3.82% $3.96 111K Oct 23, 2022 Direct F1, F2, F3
holding TTSH Common Stock 820 Oct 23, 2022 By Child #1
holding TTSH Common Stock 775 Oct 23, 2022 By Child #2
holding TTSH Common Stock 765 Oct 23, 2022 By Child #3

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) 5.4K Oct 23, 2022 Common Stock 5.4K $8.50 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person has elected to satisfy his tax withholding obligation in connection with the vesting of a prior restricted stock grant by directing the Issuer to withhold shares otherwise issuable upon vesting of the previously reported grant.
F2 Includes (i) 1,598 shares of restricted stock for which the risk of forfeiture will lapse on 2/20/23; (ii) 14,368 shares of restricted stock for which the risk of forfeiture will lapse on 10/23/23; (iii) 7,123 shares of restricted stock for which the risks of forfeiture will lapse as to 3,562 shares on 3/16/23 and 3,561 shares on 3/16/24; (iv) 5,073 shares of restricted stock for which the risks of forfeiture will lapse as to 2,533 shares on 3/15/23 and 2,540 shares on 3/15/24; (v) 7,706 shares of restricted stock for which the risks of forfeiture will lapse in three equal annual installments on each of 3/7/23, 3/7/24 and 3/7/25; and
F3 (vi) the following shares of performance-based restricted stock, which are, in each case, subject to Mr. Davis 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.
F4 Fully exercisable.