Rehmann Rayani - Aug 16, 2022 Form 4 Insider Report for MODEL N, INC. (MODN)

Role: Chief Strategy & Mktg Officer
Signature: Rehmann Rayani by Errol Hunter, Attorney-in-Fact
Stock symbol: MODN
Transactions as of: Aug 16, 2022
Transactions value $: -$83,461
Form type: 4
Date filed: 8/18/2022, 09:02 PM
Previous filing: May 18, 2022
Next filing: Nov 16, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MODN	Common Stock	Sale	-$23.6K	-747	-1.74%	$31.65	42.3K	Aug 16, 2022	Direct	F1
transaction	MODN	Common Stock	Sale	-$17.6K	-556	-1.32%	$31.65	41.7K	Aug 16, 2022	Direct	F1
transaction	MODN	Common Stock	Sale	-$6.55K	-207	-0.5%	$31.65	41.5K	Aug 16, 2022	Direct	F1, F2
transaction	MODN	Common Stock	Sale	-$15.7K	-495	-1.19%	$31.65	41K	Aug 16, 2022	Direct	F1
transaction	MODN	Common Stock	Sale	-$20K	-632	-1.54%	$31.65	40.4K	Aug 16, 2022	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 204 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.

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 204 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.