Mark B. Davis - Mar 2, 2023 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
Mar 2, 2023
Transactions value $
$0
Form type
4
Date filed
3/6/2023, 05:23 PM
Previous filing
Feb 22, 2023
Next filing
Mar 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TTSH Common Stock Disposed to Issuer $0 -9.19K -8.34% $0.00 101K Mar 2, 2023 Direct F1, F2, F3
holding TTSH Common Stock 820 Mar 2, 2023 By Child #1
holding TTSH Common Stock 775 Mar 2, 2023 By Child #2
holding TTSH Common Stock 765 Mar 2, 2023 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 Mar 2, 2023 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 Represents forfeiture of unvested performance-based restricted stock granted in 2021 and 2022 as a result of the applicable performance targets not being achieved.
F2 Includes (i) 14,368 shares of restricted stock for which the risk of forfeiture will lapse on 10/23/23; (ii) 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; (iii) 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; (iv) 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 (v) 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) 6,085 shares of performance-based restricted stock for which the risks of forfeiture will lapse on the date that the Issuer files its annual report for the year ending December 31, 2023 and (B) 10,788 shares of performance-based restricted stock for which the risks of forfeiture will lapse as to 30% and 40% of the initial number of shares granted on each of the dates that the Issuer files its annual report for the years ending December 31, 2023 and 2024, respectively. The Issuer's proxy statement contains additional information regarding the applicable performance targets.
F4 Fully exercisable.