Rehmann Rayani - 16 Feb 2024 Form 4 Insider Report for MODEL N, INC.

Signature
/s/ Rehmann Rayani by Errol Hunter, Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
16 Feb 2024
Net transactions value
-$146,778
Form type
4
Filing time
21 Feb 2024, 21:25:00 UTC
Previous filing
07 Dec 2023
Next filing
17 May 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MODN Common Stock Sale $13,216 -501 -0.34% $26.38 146,848 16 Feb 2024 Direct F1
transaction MODN Common Stock Sale $21,473 -814 -0.57% $26.38 142,707 16 Feb 2024 Direct F1, F2
transaction MODN Common Stock Sale $16,857 -639 -0.45% $26.38 142,068 16 Feb 2024 Direct F1
transaction MODN Common Stock Sale $67,955 -2,576 -1.8% $26.38 138,000 16 Feb 2024 Direct F1, F3
transaction MODN Common Stock Sale $27,277 -1,034 -0.75% $26.38 136,966 16 Feb 2024 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 3,327 shares of unvested Performance-Based RSUs ("PB-RSUs") that were cancelled due to the achievement of 30.5% of certain performance criteria related to PB-RSUs granted to the Reporting Person on December 4, 2020.
F3 Reflects a decrease of 1,492 shares of unvested Performance-Based RSUs ("PB-RSUs") that were cancelled due to the achievement of 75.6% of certain performance criteria related to PB-RSUs granted to the Reporting Person on November 13, 2021.