Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | AYX | Performance Stock Units (Class A Common Stock) | Award | $0 | +90K | $0.00 | 90K | Mar 14, 2022 | Class A Common Stock | 90K | Direct | F1, F2, F3 |
Id | Content |
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F1 | Each performance-based restricted stock unit ("PSU") award represents a contingent right to receive one share of the Issuer's Class A Common Stock at the time the shares are earned and settled for no consideration. Shares of the Issuer's Class A Common Stock will be delivered to the Reporting Person following vesting. |
F2 | The shares subject to the PSU award will vest in six segments as follows, based on the respective stock price targets for the Issuer's Class A Common Stock: (i) 20,000 shares will vest at a stock price target of $90.00; (ii) 20,000 shares will vest at a stock price target of $120.00; (iii) 15,000 shares will vest at a stock price target of $150.00; (iv) 15,000 shares will vest at a stock price target of $180.00; (v) 10,000 shares will vest at a stock price target of $210.00; and (vi) 10,000 shares will vest at a stock price target of $240.00, subject in each case to the status of "Participant's Service" (as defined in the 2017 Equity Incentive Plan) through each vesting date. The shares subject to the PSU award will vest only if the stock price is sustained at or above the respective target level over a continuous 60-trading day period. If none of the six stock price targets are achieved within a seven-year period from the grant date, no shares subject to the PSU award will vest. |
F3 | Notwithstanding any earlier achievement of a stock price target, no portion of the PSU award that is achieved will vest prior to the two-year anniversary of the grant date of the award. |