Richard Rallo - Apr 13, 2022 Form 4 Insider Report for ALICO, INC. (ALCO)

Role: CFO and CAO
Signature: /s/ Richard Rallo
Stock symbol: ALCO
Transactions as of: Apr 13, 2022
Transactions value $: $101,880
Form type: 4
Date filed: 4/14/2022, 04:18 PM
Previous filing: Dec 16, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ALCO	Alico, Inc., Common Stock, Par Value $1.00	Options Exercise	$102K	+3K	+47.67%	$33.96	9.29K	Apr 13, 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	ALCO	Employee stock option (right to buy)	Options Exercise	$0	-3K	-11.11%	$0.00	24K	Apr 13, 2022	Common Stock	3K	$33.96	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The options, representing the right to purchase a total of 32,000 shares, vest as follows: (i) 25% of the options will vest if the price of the Company's common stock during a consecutive 20-day trading period exceeds $35.00; (ii) 25% of the options will vest if the price of the Company's common stock during a consecutive 20-day trading period exceeds $40.00; (iii) 25% of the options will vest if the price of the Company's common stock during a consecutive 20-day trading period exceeds $45.00 and (iv) 25% of the options will vest if the price of the Company's common stock during a consecutive 20-day trading period exceeds $50.00, in each case subject to (x) the reporting person executing the Company's incentive stock option agreement and (y) the reporting person's continued employment or service with the Company on the applicable vesting date or such date as set forth in the incentive stock option agreement.
F2	Due to a 1000 character limit, Footnote 2 is a continuation of Footnote 1: Of the options mentioned in the preceding sentence, options representing the right to purchase 8,000 shares became exercisable on January 27, 2020; and of those options that became exercisable on January 27, 2020, options representing the right to purchase 5,000 shares were previously exercised on December 15, 2021, and the exercise of the options representing the right to purchase the other 3,000 shares is reflected in the transaction reported in this Form 4 filing. Any options not vested on or before December 31, 2022 shall be forfeited.

Content

The options, representing the right to purchase a total of 32,000 shares, vest as follows: (i) 25% of the options will vest if the price of the Company's common stock during a consecutive 20-day trading period exceeds $35.00; (ii) 25% of the options will vest if the price of the Company's common stock during a consecutive 20-day trading period exceeds $40.00; (iii) 25% of the options will vest if the price of the Company's common stock during a consecutive 20-day trading period exceeds $45.00 and (iv) 25% of the options will vest if the price of the Company's common stock during a consecutive 20-day trading period exceeds $50.00, in each case subject to (x) the reporting person executing the Company's incentive stock option agreement and (y) the reporting person's continued employment or service with the Company on the applicable vesting date or such date as set forth in the incentive stock option agreement.

Due to a 1000 character limit, Footnote 2 is a continuation of Footnote 1: Of the options mentioned in the preceding sentence, options representing the right to purchase 8,000 shares became exercisable on January 27, 2020; and of those options that became exercisable on January 27, 2020, options representing the right to purchase 5,000 shares were previously exercised on December 15, 2021, and the exercise of the options representing the right to purchase the other 3,000 shares is reflected in the transaction reported in this Form 4 filing. Any options not vested on or before December 31, 2022 shall be forfeited.