Kevin J. Kenny - Feb 1, 2022 Form 4 Insider Report for Orthofix Medical Inc. (OFIX)

Role: President of Global Spine
Signature: /s/ Kimberley A. Elting, Chief Legal and Development Officer, by power of attorney
Stock symbol: OFIX
Transactions as of: Feb 1, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/3/2022, 03:46 PM
Previous filing: Dec 7, 2021
Next filing: Apr 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OFIX	Common Stock	Award	$0	+20.5K	+56.68%	$0.00	56.6K	Feb 1, 2022	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	OFIX	Performance Share Units	Award	$0	+20.5K		$0.00	20.5K	Feb 1, 2022	Common Stock	20.5K	$0.00	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents time-based vesting restricted stock units that vest in 25% increments on the first, second, third and fourth anniversaries of the grant date, February 1, 2022.
F2	Represents performance-based vesting restricted stock units ("PSUs") that will settle as common stock on a one-for-one basis. Under the terms of the grant, the PSUs may vest based upon achieved product revenues for the 2023 fiscal year (the "Product Revenue Vesting Percentage"), as modified by a total shareholder return ("TSR") modifier (the "TSR Modifier"). The amount in the table above represents the target number of PSUs granted. The performance period of the grant is 2/1/22-1/31/25. The Product Revenue Vesting Percentage can be achieved within a range of 50% to 200% of target, based upon the level of recognized revenues. If the Product Revenue Vesting Percentage is achieved at or above the threshold level, it shall be multiplied by the TSR Modifier (ranging from 0.75 to 1.25), which shall be determined based on the Company's relative TSR during the performance period as compared to a specified peer group.

Content

Represents time-based vesting restricted stock units that vest in 25% increments on the first, second, third and fourth anniversaries of the grant date, February 1, 2022.

Represents performance-based vesting restricted stock units ("PSUs") that will settle as common stock on a one-for-one basis. Under the terms of the grant, the PSUs may vest based upon achieved product revenues for the 2023 fiscal year (the "Product Revenue Vesting Percentage"), as modified by a total shareholder return ("TSR") modifier (the "TSR Modifier"). The amount in the table above represents the target number of PSUs granted. The performance period of the grant is 2/1/22-1/31/25. The Product Revenue Vesting Percentage can be achieved within a range of 50% to 200% of target, based upon the level of recognized revenues. If the Product Revenue Vesting Percentage is achieved at or above the threshold level, it shall be multiplied by the TSR Modifier (ranging from 0.75 to 1.25), which shall be determined based on the Company's relative TSR during the performance period as compared to a specified peer group.