Dave Michaud - 16 Aug 2021 Form 4 Insider Report for MODEL N, INC.

Role: SVP & Chief Marketing Officer
Signature: Dave Michaud by Errol Hunter, Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 16 Aug 2021
Net transactions value: -$37,199
Form type: 4
Filing time: 18 Aug 2021, 17:56:06 UTC
Previous filing: 19 May 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MODN	Common Stock	Sale	$21,521	-663	-1.3%	$32.46	51,875	16 Aug 2021	Direct	F1
transaction	MODN	Common Stock	Sale	$8,018	-247	-0.48%	$32.46	51,250	16 Aug 2021	Direct	F1, F2
transaction	MODN	Common Stock	Sale	$7,661	-236	-0.46%	$32.46	51,014	16 Aug 2021	Direct	F1

* 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 transaction 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/or performance-based RSUs. The Reporting Person did not sell or otherwise dispose of any of the shares reported in this transaction 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 transaction 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/or performance-based RSUs. The Reporting Person did not sell or otherwise dispose of any of the shares reported in this transaction 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.