Bhaskar Rao - Jan 3, 2023 Form 4 Insider Report for TEMPUR SEALY INTERNATIONAL, INC. (TPX)

Signature
/s/ Bhaskar Rao
Stock symbol
TPX
Transactions as of
Jan 3, 2023
Transactions value $
-$1,469,134
Form type
4
Date filed
1/5/2023, 03:04 PM
Previous filing
Dec 29, 2022
Next filing
Jan 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TPX Common Stock Options Exercise $0 +72.5K +25.41% $0.00 358K Jan 3, 2023 Direct F1
transaction TPX Common Stock Tax liability -$769K -22.8K -6.37% $33.77 335K Jan 3, 2023 Direct
transaction TPX Common Stock Options Exercise $0 +9.06K +2.7% $0.00 344K Jan 3, 2023 Direct F1
transaction TPX Common Stock Tax liability -$95.1K -2.82K -0.82% $33.77 341K Jan 3, 2023 Direct
transaction TPX Common Stock Sale -$531K -15.2K -4.45% $35.01 326K Jan 3, 2023 Direct F2, F3
transaction TPX Common Stock Sale -$73.5K -2.1K -0.64% $35.00 324K Jan 4, 2023 Direct F2, F4

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 TPX Performance Restricted Stock Units Options Exercise $0 -72.5K -50.01% $0.00 72.5K Jan 3, 2023 Common Stock 72.5K $0.00 Direct F1, F5
transaction TPX Restricted Stock Units Options Exercise $0 -9.06K -50% $0.00 9.06K Jan 3, 2023 Common Stock 9.06K $0.00 Direct F1, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Performance restricted stock units and restricted stock units convert into common stock on a one-for-one basis.
F2 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 9, 2022.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.00 to $35.07. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.00 to $35.01. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F5 On February 4, 2021, the Compensation Committee of the Board of Directors determined that the maximum performance condition for the performance restricted stock units (PRSUs) granted on January 3, 2020 was achieved. The PRSUs vest in approximately three equal installments on January 3, 2022, 2023 and 2024 and have been adjusted to reflect the 4-for-1 stock split, which occurred on November 24, 2020.
F6 The restricted stock units ("RSUs") were previously reported as a grant of 9,058 RSUs vesting in four annual installments on January 3, 2021, 2022, 2023 and 2024. The RSUs have been adjusted to reflect the 4-for-1 stock split, which occurred on November 24, 2020.