Kendall Larsen - 14 Jun 2021 Form 4 Insider Report for VirnetX Holding Corp (VHC)

Role: President & CEO, Director, 10%+ Owner
Signature: /s/ Kendall Larsen
Issuer symbol: VHC
Transactions as of: 14 Jun 2021
Net transactions value: $0
Form type: 4
Filing time: 16 Jun 2021, 19:14:49 UTC
Next filing: 26 Nov 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VHC	Common Stock	Award	$0	+26,667	+0.42%	$0.000000	6,409,711	14 Jun 2021	Direct	F1
transaction	VHC	Common Stock	Award	$0	+13,333	+2.4%	$0.000000	563,118	14 Jun 2021	By: Spouse	F1
holding	VHC	Common Stock						613,530	14 Jun 2021	By: The Kathleen Sheehan Revocable Trust dtd 2/5/2009
holding	VHC	Common Stock						300,000	14 Jun 2021	By: The K2 Investment Fund LLC

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

Type	Sym	Class	Transaction	Value $	Shares	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	VHC	Stock Option (Right to Buy)	Award	$0	+40,000	$0.000000	40,000	14 Jun 2021	Common Stock	40,000	$4.59	Direct	F2
transaction	VHC	Stock Option (Right to Buy)	Award	$0	+55,000	$0.000000	55,000	14 Jun 2021	Common Stock	55,000	$4.59	Direct	F2
transaction	VHC	Stock Option (Right to Buy)	Award	$0	+20,000	$0.000000	20,000	14 Jun 2021	Common Stock	20,000	$4.59	By: Spouse	F2
transaction	VHC	Stock Option (Right to Buy)	Award	$0	+44,000	$0.000000	44,000	14 Jun 2021	Common Stock	44,000	$4.59	By: Spouse	F2

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

Explanation of Responses:

Id	Content
F1	Twenty-five percent (25%) of the Restricted Stock Units ("RSUs") will vest on the one (1) year anniversary of the grant date, and twenty-five percent (25%) of the RSUs will vest each year thereafter on the same day as the grant date, subject to Participant continuing to be a Service Provider (as defined in the Company's 2013 Equity Incentive Plan (the "Plan")) through each such date. If a Change in Control (as defined in the Plan) occurs, all of the RSUs then unvested as of the date of the Change in Control will vest immediately prior to the consummation of the Change in Control transaction.
F2	1/48 of the total number of Shares subject to the Option shall vest and become exercisable on the one- month anniversary of the grant date, and 1/48 of the total number of Shares subject to the Option shall vest and become exercisable on each monthly anniversary thereafter, so long as the individual's continuous status as a Service Provider (as defined in the Plan) has not terminated prior to each such date. If a Change in Control (as defined in the Plan) occurs, all of the Shares underlying this Option then unvested as of the date of the Change in Control, will vest and become exercisable immediately prior to the consummation of the Change in Control transaction.

Content

Twenty-five percent (25%) of the Restricted Stock Units ("RSUs") will vest on the one (1) year anniversary of the grant date, and twenty-five percent (25%) of the RSUs will vest each year thereafter on the same day as the grant date, subject to Participant continuing to be a Service Provider (as defined in the Company's 2013 Equity Incentive Plan (the "Plan")) through each such date. If a Change in Control (as defined in the Plan) occurs, all of the RSUs then unvested as of the date of the Change in Control will vest immediately prior to the consummation of the Change in Control transaction.

1/48 of the total number of Shares subject to the Option shall vest and become exercisable on the one- month anniversary of the grant date, and 1/48 of the total number of Shares subject to the Option shall vest and become exercisable on each monthly anniversary thereafter, so long as the individual's continuous status as a Service Provider (as defined in the Plan) has not terminated prior to each such date. If a Change in Control (as defined in the Plan) occurs, all of the Shares underlying this Option then unvested as of the date of the Change in Control, will vest and become exercisable immediately prior to the consummation of the Change in Control transaction.