Cabell Lolmaugh - Feb 29, 2024 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
Feb 29, 2024
Transactions value $
$0
Form type
4
Date filed
3/1/2024, 08:50 PM
Previous filing
Mar 16, 2023
Next filing
Mar 4, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TTSH Common Stock Disposed to Issuer $0 -32.5K -14.2% $0.00 197K Feb 29, 2024 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 Feb 29, 2024 Common Stock 26.9K $8.50 Direct F4
holding TTSH Stock Option (Right to Buy) 56K Feb 29, 2024 Common Stock 56K $5.55 Direct F4
holding TTSH Stock Option (Right to Buy) 97.1K Feb 29, 2024 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, 2022 and 2023 as a result of the applicable performance targets not being achieved.
F2 Includes (i) 28,494 shares of restricted stock for which the risks of forfeiture will lapse on 3/16/24; (ii) 5,081 shares of restricted stock for which the risks of forfeiture will lapse on 3/15/24; (iii) 10,274 shares of restricted stock for which the risks of forfeiture will lapse in equal annual installments on each of 3/7/24 and 3/7/25; (iv) 18,520 shares of restricted stock for which the risks of forfeiture will lapse in equal annual installments on each of 3/6/24, 3/6/25 and 3/6/26; and
F3 (v) the following shares of performance-based restricted stock, which are, in each case, subject to Mr. Lolmaugh remaining in continuous employment with the Issuer through December 31 of the year preceding the applicable vesting date and the Issuer achieving its performance target for each respective year: (A) 12,329 shares for which the risks of forfeiture will lapse on the date the Issuer files its annual report for the 2024 fiscal year; and (B) 25,927 shares 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 the Issuer files its annual report for the 2024 and 2025 fiscal years, respectively. The Issuer's proxy statement contains additional information regarding the applicable performance targets.
F4 Fully exercisable.