Jason Blessing - Nov 15, 2021 Form 4 Insider Report for MODEL N, INC. (MODN)

Signature
Jason Blessing by Errol Hunter, Attorney-in-Fact
Stock symbol
MODN
Transactions as of
Nov 15, 2021
Transactions value $
-$470,660
Form type
4
Date filed
11/17/2021, 07:39 PM
Previous filing
Aug 18, 2021
Next filing
Feb 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MODN Common Stock Award $0 +74.9K +16.35% $0.00 533K Nov 15, 2021 Direct F1
transaction MODN Common Stock Award $0 +74.9K +14.05% $0.00 608K Nov 15, 2021 Direct F2
transaction MODN Common Stock Award $0 +6.64K +1.09% $0.00 614K Nov 15, 2021 Direct F3
transaction MODN Common Stock Sale -$127K -3.91K -0.64% $32.37 610K Nov 16, 2021 Direct F4
transaction MODN Common Stock Sale -$68.5K -2.12K -0.35% $32.37 608K Nov 16, 2021 Direct F4
transaction MODN Common Stock Sale -$91.8K -2.84K -0.47% $32.37 605K Nov 16, 2021 Direct F4
transaction MODN Common Stock Sale -$66.8K -2.06K -0.34% $32.37 603K Nov 16, 2021 Direct F4
transaction MODN Common Stock Sale -$58.1K -1.8K -0.3% $32.37 602K Nov 16, 2021 Direct F4, F5
transaction MODN Common Stock Sale -$58.9K -1.82K -0.3% $32.37 600K Nov 16, 2021 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Issuable upon the vesting of Restricted Stock Units ("RSUs"). 6.25% of the RSUs will vest on each quarterly anniversary of the vesting commencement date until such time as the RSUs are 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting.
F2 Issuable upon vesting and satisfaction of certain performance criteria of Performance-Based Restricted Stock Units ("PB-RSUs"). Subject to the achievement of certain minimum performance criteria based upon total stockholder return, between a minimum of 0% and a maximum of 200%, the PB-RSUs will vest as to 50% on each of the second and third annual anniversary of the vesting commencement date until such time as the PB-RSUs are 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person upon vesting if the performance criteria have been met.
F3 Issuable upon the vesting of Restricted Stock Units ("RSUs"). 100% of the RSUs vested on November 15, 2021. Shares of the Issuer's common stock were delivered to the Reporting Person upon vesting.
F4 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.
F5 Reflects a decrease of 1,878 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 November 22, 2019.