Anthony Fernando - Feb 3, 2023 Form 4 Insider Report for ASENSUS SURGICAL, INC. (ASXC)

Role
President and CEO, Director
Signature
/s/Joshua Weingard, as Attorney-in-Fact for Anthony Fernando
Stock symbol
ASXC
Transactions as of
Feb 3, 2023
Transactions value $
-$406,295
Form type
4
Date filed
2/7/2023, 04:55 PM
Previous filing
Feb 7, 2022
Next filing
Apr 25, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ASXC Common Stock Options Exercise $0 +1.21M +146.64% $0.00 2.03M Feb 4, 2023 Direct
transaction ASXC Common Stock Tax liability -$406K -542K -26.68% $0.75 1.49M Feb 4, 2023 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 ASXC Stock Options Award $0 +375K $0.00 375K Feb 3, 2023 Common Stock 375K $0.75 Direct F2
transaction ASXC Restricted Stock Units Award $0 +750K $0.00 750K Feb 3, 2023 Common Stock 750K $0.00 Direct F3, F4
transaction ASXC Restricted Stock Units Award $0 +375K $0.00 375K Feb 3, 2023 Common Stock 375K $0.00 Direct F5, F6
transaction ASXC Restricted Stock Units Options Exercise $0 -80K -100% $0.00* 0 Feb 4, 2023 Common Stock 80K $0.00 Direct F3, F7
transaction ASXC Restricted Stock Units Options Exercise $0 -53.3K -100% $0.00* 0 Feb 4, 2023 Common Stock 53.3K $0.00 Direct F5, F8
transaction ASXC Restricted Stock Units Options Exercise $0 -234K -50% $0.00 234K Feb 4, 2023 Common Stock 234K $0.00 Direct F5, F9
transaction ASXC Restricted Stock Units Options Exercise $0 -234K -50% $0.00 234K Feb 4, 2023 Common Stock 234K $0.00 Direct F3, F10
transaction ASXC Restricted Stock Units Options Exercise $0 -281K -100% $0.00* 0 Feb 4, 2023 Common Stock 281K $0.00 Direct F5, F11
transaction ASXC Restricted Stock Units Options Exercise $0 -162K -33.33% $0.00 325K Feb 4, 2023 Common Stock 162K $0.00 Direct F5, F12
transaction ASXC Restricted Stock Units Options Exercise $0 -162K -33.33% $0.00 325K Feb 4, 2023 Common Stock 162K $0.00 Direct F3, F13
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction represents the payment of a tax liability on the lapse of forfeiture restrictions on a derivative security and acquisition of the underlying shares.
F2 Vests one-third annually on each of the first three anniversaries of the date of grant, subject to acceleration as set forth in the Registrant's Amended and Restated Incentive Compensation Plan ("Plan") and the Reporting Person's Employment Agreement with the Registrant ("Employment Agreement").
F3 Each performance-based restricted stock unit ("PRSU") represents the right to receive one share of the Registrant's common stock.
F4 PRSU award with time-based vesting in three equal installments on each of February 4, 2024, 2025 and 2026, and performance-based vesting only if designated corporate goals are achieved. The Reporting Person must continue to provide services to the Company during the vesting period.
F5 Each restricted stock unit ("RSU") represents the right to receive one share of the Registrant's common stock.
F6 Forfeiture restrictions will lapse on the RSUs in three installments on each of February 4, 2024, 2025 and 2026, as long as the Reporting Person remains in continuous service during the vesting period, subject to acceleration as set forth in the Plan and the Reporting Person's Employment Agreement.
F7 Lapse of forfeiture restrictions on final one-third of a PRSU award granted on June 8, 2020 upon the achievement of time and performance goals.
F8 Lapse of forfeiture restrictions on final one-third of a RSU award granted on June 8, 2020.
F9 Lapse of forfeiture restrictions on the second one-third of an award of RSUs from this grant made on February 8, 2021. The remaining RSUs will vest on February 4, 2024, as long as the Reporting Person provides continuous service to the Company during the vesting period, and subject to acceleration as set forth in the Registrant's Incentive Compensation Plan and the Reporting Person's Employment Agreement.
F10 Lapse of forfeiture restrictions on second one-third of a PRSU award granted on February 8, 2021 upon the achievement of time and performance goals. Forfeiture restrictions will lapse on the remaining PRSUs on February 4, 2024, as long as the Reporting Person provides continuous service during the vesting period, subject to acceleration as set forth in the Registrant's Plan and the Reporting Person's Employment Agreement.
F11 Lapse of forfeiture restrictions on a discretionary retention award made on February 4, 2022.
F12 Lapse of forfeiture restrictions on the first one-third of an award of RSUs from this grant made on February 4, 2022. The remaining RSUs will vest in equal installments on each of February 4, 2024 and 2025, as long as the Reporting Person provides continuous service to the Company during the vesting period, and subject to acceleration as set forth in the Registrant's Incentive Compensation Plan and the Reporting Person's Employment Agreement.
F13 Lapse of forfeiture restrictions on one-third of a PRSU award granted on February 4, 2022 upon the achievement of time and performance goals. Forfeiture restrictions will lapse on the remaining PRSUs on each of February 4, 2024 and 2025, subject to acceleration as set forth in the Registrant's Plan and the Reporting Person's Employment Agreement.