S. Jacobs Bradley - Feb 29, 2024 Form 4 Insider Report for XPO, Inc. (XPO)

Role
Executive Chairman, Director
Signature
/s/ Wendy Cassity, Attorney-in-Fact
Stock symbol
XPO
Transactions as of
Feb 29, 2024
Transactions value $
$0
Form type
4
Date filed
3/4/2024, 05:41 PM
Previous filing
Jan 4, 2024
Next filing
Mar 19, 2024

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 XPO Restricted Stock Unit Award $0 +99.1K $0.00 99.1K Feb 29, 2024 Common Stock 99.1K Direct F1, F2
transaction XPO Restricted Stock Unit Award $0 +8.29K $0.00 8.29K Mar 1, 2024 Common Stock 8.29K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") represents a contingent right to receive, upon settlement, either (i) one share of Common Stock or (ii) a cash payment equal to the fair market value of one share of Common Stock.
F2 On February 9, 2023, the Reporting Person was granted unvested RSUs, subject to the Issuer's satisfaction of certain predetermined performance criteria. On February 29, 2024, the Compensation Committee of the Board of Directors of the Issuer certified that the performance criteria applicable to 25% of such RSUs has been satisfied. The RSUs shall vest on February 9, 2025, generally subject to the Reporting Person's continued employment with the Issuer. 75% of the RSUs remain subject to the Issuer's satisfaction of certain predetermined performance criteria.
F3 These RSUs vest in three equal annual installments on March 15, 2025, March 15, 2026 and March 15, 2027, generally subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.