Cabell Lolmaugh - Mar 2, 2023 Form 4 Insider Report for TILE SHOP HOLDINGS, INC. (TTSH)

Role
Chief Executive Officer, Director
Signature
/s/ Cabell Lolmaugh
Stock symbol
TTSH
Transactions as of
Mar 2, 2023
Transactions value $
$0
Form type
4
Date filed
3/6/2023, 05:24 PM
Previous filing
May 12, 2022
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 -18.4K -8.96% $0.00 187K Mar 2, 2023 Direct F1, F2, 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
holding TTSH Stock Option (Right to Buy) 26.9K Mar 2, 2023 Common Stock 26.9K $8.50 Direct F4
holding TTSH Stock Option (Right to Buy) 56K Mar 2, 2023 Common Stock 56K $5.55 Direct F4
holding TTSH Stock Option (Right to Buy) 97.1K Mar 2, 2023 Common Stock 97.1K $6.26 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) 56,988 shares of restricted stock for which the risks of forfeiture will lapse as to 28,494 shares on each of 3/16/23 and 3/16/24; (ii) 10,147 shares of restricted stock for which the risks of forfeiture will lapse as to 5,066 shares on 3/15/23 and 5,081 shares on 3/15/24; (iii) 15,411 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 (iv) the following shares of performance-based restricted stock, which are, in each case, subject to Mr. Lolmaugh 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) 12,171 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) 21,576 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.