Dave Michaud - May 17, 2021 Form 4 Insider Report for MODEL N, INC. (MODN)

Role: SVP & Chief Marketing Officer
Signature: Dave Michaud by Errol Hunter, Attorney-in-Fact
Stock symbol: MODN
Transactions as of: May 17, 2021
Transactions value $: -$40,423
Form type: 4
Date filed: 5/19/2021, 07:36 PM
Next filing: Aug 18, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MODN	Common Stock	Sale	-$23.4K	-666	-1.24%	$35.12	53K	May 17, 2021	Direct	F1
transaction	MODN	Common Stock	Sale	-$8.32K	-237	-0.45%	$35.12	52.8K	May 17, 2021	Direct	F1
transaction	MODN	Common Stock	Sale	-$8.71K	-248	-0.47%	$35.12	52.5K	May 17, 2021	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	All shares reported as disposed of in this Form 4 were sold by the Reporting Person in order to pay the federal and state tax withholding obligations resulting from the vesting of the Reporting Person's Restricted Stock Units ("RSUs") and performance-based RSUs. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes.
F2	Reflects a decrease of 378 shares of unvested Performance-Based RSUs ("PB-RSUs") that were cancelled due to the achievement of 64.9% of certain performance criteria related to PB-RSUs granted to the Reporting Person on March 9, 2020.

Content

All shares reported as disposed of in this Form 4 were sold by the Reporting Person in order to pay the federal and state tax withholding obligations resulting from the vesting of the Reporting Person's Restricted Stock Units ("RSUs") and performance-based RSUs. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes.

Reflects a decrease of 378 shares of unvested Performance-Based RSUs ("PB-RSUs") that were cancelled due to the achievement of 64.9% of certain performance criteria related to PB-RSUs granted to the Reporting Person on March 9, 2020.