THOMAS MCCLELLAND - 14 Dec 2021 Form 4 Insider Report for FREQUENCY ELECTRONICS INC (FEIM)

Role: VP of Advanced Development
Signature: /s/ Steven Bernstein by power of attorney
Issuer symbol: FEIM
Transactions as of: 14 Dec 2021
Net transactions value: -$0.4
Form type: 4
Filing time: 16 Dec 2021, 14:19:46 UTC
Previous filing: 02 Nov 2021
Next filing: 04 Nov 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FEIM	Common Stock	Options Exercise	$72,500	+10,000	+97%	$7.25	20,342	14 Dec 2021	Direct
transaction	FEIM	Common Stock	Tax liability	$72,500	-7,672	-38%	$9.45	12,670	14 Dec 2021	Direct

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	FEIM	Stock Appreciation Rights	Options Exercise	$0	-10,000	-22%	$0.000000	36,000	14 Dec 2021	Common Stock	10,000	$7.25	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The Reporting Person exercised a Stock Appreciation Right based on 10,000 shares of Frequency Electronics common stock, receiving 2,328 shares, which is equivalent to the appreciated value of the common stock since the grant date.
F2	Total also reflects the expiration of 10,000 Stock Appreciation Rights previously granted to the Reporting Person that have expired without being exercised.