Dennis Bertolotti - Mar 14, 2022 Form 4 Insider Report for Mistras Group, Inc. (MG)

Role: President and CEO, Director
Signature: Michael C. Keefe, attorney-in-fact for Dennis Bertolotti
Stock symbol: MG
Transactions as of: Mar 14, 2022
Transactions value $: $0
Form type: 4
Date filed: 3/16/2022, 05:18 PM
Previous filing: Jan 7, 2022
Next filing: Mar 22, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MG	Common Stock	Award	$0	+75.6K	+23.18%	$0.00	402K	Mar 14, 2022	Direct	F1
transaction	MG	Common Stock	Conversion of derivative security	$0	+28.8K	+7.16%	$0.00	431K	Mar 14, 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MG	Performance Share Unit	Conversion of derivative security	$0	-28.8K	-100%	$0.00^*	0	Mar 14, 2022	Common Stock	28.8K	$0.00	Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	Represents an award of restricted stock units for payment of a performance award earned, which vests 25% on March 14, 2023 and 25% on each of December 31, 2023, 2024 and 2025.
F2	Transaction represents the conversion of performance units earned based on 2021 performance. The units earned are paid in restricted stock units which vest 25% on March 14 2023 and 25% on each of December 31, 2023, 2024 and 2025.
F3	These performance share units vest to the extent earned in 2022 based upon performance metrics for 2021. The reporting person may earn between 0 and 200% of the units reported based on performance. Once earned, these performance share units will be paid in restricted stock units which will vest over 4 years.