Scott Adams Stepp - Jun 13, 2022 Form 4 Insider Report for CKX LANDS, INC. (CKX)

Role: Chief Financial Officer
Signature: /s/ Scott A. Stepp
Stock symbol: CKX
Transactions as of: Jun 13, 2022
Transactions value $: $0
Form type: 4
Date filed: 6/15/2022, 07:08 PM
Previous filing: May 11, 2022
Next filing: Jun 17, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CKX	Common Stock	Award	$0	+38.4K		$0.00	38.4K	Jun 13, 2022	Direct	F1
transaction	CKX	Common Stock	Options Exercise	$0	+15.8K	+41.15%	$0.00	54.2K	Jun 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	CKX	Performance Shares	Award	$0	+140K		$0.00	140K	Jun 13, 2022	Common Stock	140K		Direct	F2
transaction	CKX	Performance Shares	Options Exercise	$0	-15.8K	-11.27%	$0.00	124K	Jun 13, 2022	Common Stock	15.8K		Direct	F3

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

Explanation of Responses:

Id	Content
F1	The reported transaction was the grant of restricted stock units (RSUs) that are payable solely in shares of the Issuer's common stock. The RSUs will vest incrementally on July 15, 2022, 2023 and 2024 if the Reporting Person remains employed by the Issuer on those dates.
F2	Each performance share represents a contingent right to receive one share of the Issuer's common stock. Various percentages of the performance share award vest if the closing price of the Issuer's common stock equals or exceeds, for at least ten consecutive trading days during the performance period, prices of $12, $13, $14, $14.50 and $15 per share. The performance period is July 15, 2020 to July 15, 2024.
F3	The Issuer's common stock met the $12 trading price target on May 19, 2021. Accordingly, 11.27% of the award was vested at the time it was granted.