John T. Hanson - Mar 16, 2022 Form 4 Insider Report for Turtle Beach Corp (HEAR)

Role
CFO, Treasurer and Secretary
Signature
/s/John T. Hanson
Stock symbol
HEAR
Transactions as of
Mar 16, 2022
Transactions value $
$0
Form type
4
Date filed
3/18/2022, 06:40 PM
Previous filing
Nov 19, 2021
Next filing
Apr 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding HEAR Common Stock 19.5K Mar 16, 2022 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 HEAR Performance Stock Units Award $0 +3.36K $0.00 3.36K Mar 16, 2022 Common Stock 3.36K Direct F1, F2
holding HEAR Restricted Stock Units 10K Mar 16, 2022 Common Stock 10K Direct F3, F4
holding HEAR Restricted Stock Units 20.6K Mar 16, 2022 Common Stock 20.6K Direct F3, F5
holding HEAR Restricted Stock Units 18K Mar 16, 2022 Common Stock 18K Direct F3, F6
holding HEAR Stock Option (Right to Buy) 2.7K Mar 16, 2022 Common Stock 2.7K $2.04 Direct F7
holding HEAR Stock Option (Right to Buy) 14.2K Mar 16, 2022 Common Stock 14.2K $12.10 Direct F8
holding HEAR Stock Option (Right to Buy) 33.2K Mar 16, 2022 Common Stock 33.2K $5.95 Direct F9
holding HEAR Stock Option (Right to Buy) 29.4K Mar 16, 2022 Common Stock 29.4K $3.12 Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The securities are performance stock units representing a contingent right to receive one share of Turtle Beach Corporation common stock.
F2 Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2021 under the Turtle Beach Corporation Stock Based 2013 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2022, subject to continued employment through such date.
F3 The securities are restricted stock units representing a contingent right to receive one share of Turtle Beach Corporation common stock, or cash with a value equal to the fair market value of the underlying common stock, or a combination thereof.
F4 These restricted stock units vest in equal annual installments until April 1, 2023.
F5 These restricted stock units vest in equal annual installments until April 1, 2024.
F6 One-quarter of these restricted stock units will vest on April 1, 2022, with the remainder of the restricted stock units vesting in equal annual installments until April 1, 2025.
F7 All options were exercisable as of the transaction date.
F8 All exercised options were exercisable as of the transaction date, with the remainder options scheduled to vest in equal monthly installments until April 1, 2023.
F9 All exercised options were exercisable as of the transaction date, with the remainder options scheduled to vest in equal monthly installments until April 1, 2024.
F10 These options are scheduled to vest in equal monthly installments until April 11, 2022.