Martin N. Davidson - Jan 31, 2023 Form 4 Insider Report for Enviva Inc. (EVA)

Role: Director
Signature: /s/ Jason E. Paral, as attorney-in-fact for Martin N. Davidson
Stock symbol: EVA
Transactions as of: Jan 31, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/2/2023, 07:16 PM
Previous filing: Nov 3, 2022
Next filing: Feb 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EVA	Common Stock	Options Exercise	$0	+2.08K	+283.9%	$0.00	2.81K	Feb 1, 2023	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	EVA	Restricted Stock Units	Award	$0	+3.46K		$0.00	3.46K	Jan 31, 2023	Common Stock	3.46K	$0.00	Direct	F2
transaction	EVA	Restricted Stock Units	Options Exercise	$0	-2.08K	-100%	$0.00^*	0	Feb 1, 2023	Common Stock	2.08K	$0.00	Direct	F1

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

Explanation of Responses:

Id	Content
F1	On February 1, 2023, the restricted stock units reported above vested in accordance with the Reporting Person's grant award and were settled through the issuance of an equal number of shares of common stock to the Reporting Person.
F2	Each restricted stock unit is the economic equivalent of one share of common stock and includes a tandem grant of a dividend equivalent right entitling the holder to receive an amount in cash equal to the value of any cash dividends paid to the holders of the Issuer's common stock during the period in which the restricted stock is outstanding. The restricted stock units will vest on the first anniversary of the date of grant as long as the Reporting Person continues to serve as a member of the board of directors of the Issuer through such date, and may be settled in either cash or shares of common stock.

Content

On February 1, 2023, the restricted stock units reported above vested in accordance with the Reporting Person's grant award and were settled through the issuance of an equal number of shares of common stock to the Reporting Person.

Each restricted stock unit is the economic equivalent of one share of common stock and includes a tandem grant of a dividend equivalent right entitling the holder to receive an amount in cash equal to the value of any cash dividends paid to the holders of the Issuer's common stock during the period in which the restricted stock is outstanding. The restricted stock units will vest on the first anniversary of the date of grant as long as the Reporting Person continues to serve as a member of the board of directors of the Issuer through such date, and may be settled in either cash or shares of common stock.