Mark B. Davis - Mar 4, 2024 Form 4 Insider Report for TILE SHOP HOLDINGS, INC. (TTSH)

Signature
/s/ Mark B. Davis
Stock symbol
TTSH
Transactions as of
Mar 4, 2024
Transactions value $
$0
Form type
4
Date filed
3/4/2024, 09:35 PM
Previous filing
Mar 1, 2024
Next filing
Mar 8, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TTSH Common Stock Award $0 +7.56K +7.89% $0.00 103K Mar 4, 2024 Direct F1
transaction TTSH Common Stock Award $0 +15.1K +14.63% $0.00 119K Mar 4, 2024 Direct F2, F3, F4

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 4, 2024 Common Stock 5.4K $8.50 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of restricted stock for which the risks of forfeiture will lapse in three equal annual installments on each of 3/4/25, 3/4/26 and 3/4/27, subject to continuous employment as of the applicable vesting date.
F2 Represents shares of performance-based restricted stock for which the risks of forfeiture will lapse as to 30% of the shares on the date the Issuer files its annual report for the year ending December 31, 2024, 30% of the shares on the date the Issuer files its annual report for the year ending December 31, 2025, and 40% of the shares on the date the Issuer files its annual report for the year ending December 31, 2026, subject to (i) Mr. Davis remaining in continuous employment with the Issuer through December 31 of the year preceding the applicable vesting date and (ii) the Issuer achieving 12%, 14% and 15% of adjusted pre-tax return on capital employed for each respective year.
F3 Includes (i) 3,561 shares of restricted stock for which the risks of forfeiture will lapse on 3/16/24; (ii) 2,540 shares of restricted stock for which the risks of forfeiture will lapse on 3/15/24; (iii) 5,137 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) 9,260 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; (v) 7,562 shares for which the risks of forfeiture will lapse in equal annual installments on each of 3/4/25, 3/4/26 and 3/4/27; and
F4 (vi) the following shares of performance-based restricted stock, which are, in each case, subject to Mr. Davis 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) 6,165 shares for which the risks of forfeiture will lapse on the date the Issuer files its annual report for the 2024 fiscal year; (B) 12,963 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; and (C) 15,125 shares for which the risks of forfeiture will lapse as to 30%, 30% and 40% on each of the dates the Issuer files its annual report for the 2024, 2025 and 2026 fiscal years, respectively. The Issuer's proxy statement contains additional information regarding the applicable performance targets.
F5 Fully exercisable