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

Role: Chief Financial Officer
Signature: /s/ Karla Lunan
Stock symbol: TTSH
Transactions as of: Mar 2, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/6/2023, 05:25 PM
Previous filing: Mar 8, 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	-6.17K	-20%	$0.00	24.7K	Mar 2, 2023	Direct	F1, F2

* 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 2022 as a result of the applicable performance targets not being achieved.
F2	Includes (i) 10,274 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 (ii) 14,384 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, subject to Ms. Lunan 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. The Issuer's proxy statement contains additional information regarding the applicable performance targets.

Content

Represents forfeiture of unvested performance-based restricted stock granted in 2022 as a result of the applicable performance targets not being achieved.

Includes (i) 10,274 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 (ii) 14,384 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, subject to Ms. Lunan 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. The Issuer's proxy statement contains additional information regarding the applicable performance targets.