Timothy Burns - Dec 15, 2022 Form 4 Insider Report for Ideal Power Inc. (IPWR)

Role: Chief Financial Officer
Signature: /s/ Timothy Burns
Stock symbol: IPWR
Transactions as of: Dec 15, 2022
Transactions value $: -$31,971
Form type: 4
Date filed: 12/19/2022, 08:25 PM
Previous filing: Dec 21, 2021
Next filing: May 17, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IPWR	Common Stock	Award	$0	+27.5K	+102.31%	$0.00	54.4K	Dec 15, 2022	Direct	F1
transaction	IPWR	Common Stock	Tax liability	-$32K	-3.11K	-5.72%	$10.27	51.3K	Dec 17, 2022	Direct	F2

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	IPWR	Performance Stock Units	Award	$0	+27.5K		$0.00	27.5K	Dec 15, 2022	Common Stock	27.5K		Direct	F3

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

Explanation of Responses:

Id	Content
F1	Represents 27,500 restricted stock units (RSUs) granted to the reporting person under the issuer's 2013 Equity Incentive Plan, as amended and restated to date (the 2013 Plan). Each RSU represents the contingent right to receive one share of the issuer's common stock. The RSUs vest in three equal annual installments on December 15, 2023, December 15, 2024 and December 15, 2025, provided that the reporting person remains employed by the issuer as of each vesting date.
F2	Represents shares withheld by the issuer to cover tax withholding obligations upon vesting of an RSU award.
F3	Represents up to 27,500 performance stock units (PSUs) granted to the reporting person under the issuer's 2013 Plan. Each PSU represents the contingent right to receive one share of the issuer's common stock. The PSUs vest in three equal tranches at such time or times prior to December 15, 2025 that certain common stock price appreciation metrics are achieved, provided that the reporting person remains employed by the issuer as of each vesting date.