Robert B. Cushing - Mar 6, 2023 Form 4 Insider Report for ADVANCE AUTO PARTS INC (AAP)

Role
EVP, Professional
Signature
/s/ Amanda L. Keister, as Attorney-in-Fact for Robert B. Cushing
Stock symbol
AAP
Transactions as of
Mar 6, 2023
Transactions value $
$249,991
Form type
4
Date filed
3/8/2023, 08:21 PM
Previous filing
Mar 6, 2023
Next filing
Mar 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AAP Common Stock Award $250K +1.85K +7.7% $135.13 25.9K Mar 6, 2023 Direct F1

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 AAP Stock Option (right to buy) Award $0 +7.07K +152.6% $0.00 11.7K Mar 6, 2023 Common Stock 7.07K $135.13 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported amount of time-based restricted stock units (RSUs) along with performance-based RSUs not reported on this Form 4, collectively, represent 25% and 50% portions, respectively, of a target equity award. The time-based RSUs are subject to time vesting in three approximately equal annual installments beginning one year from the grant date. The performance-based RSUs may vest on the third anniversary of the grant date, if the registrant achieves a certain pre-determined financial performance target, subject to certification by the registrant's Compensation Committee. In addition, if the registrant's financial performance exceeds the target level, the reporting person may receive additional shares up to a maximum of 200% of the target level grant of performance-based RSUs.
F2 The option vests in three equal annual installments beginning on March 5, 2024.