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

Role: EVP, Chief Financial Officer
Signature: /s/ Joshua Weingard, as attorney-in-fact for Shameze Rampertab
Stock symbol: ASXC
Transactions as of: Feb 3, 2023
Transactions value $: -$77,999
Form type: 4
Date filed: 2/7/2023, 05:00 PM
Previous filing: Jul 5, 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	+249K	+265.34%	$0.00	342K	Feb 4, 2023	Direct
transaction	ASXC	Common Stock	Tax liability	-$78K	-104K	-30.39%	$0.75	238K	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	+175K		$0.00	175K	Feb 3, 2023	Common Stock	175K	$0.75	Direct	F2
transaction	ASXC	Restricted Stock Units	Award	$0	+175K		$0.00	175K	Feb 3, 2023	Common Stock	175K	$0.00	Direct	F3, F4
transaction	ASXC	Restricted Stock Units	Award	$0	+350K		$0.00	350K	Feb 3, 2023	Common Stock	350K	$0.00	Direct	F5, F6
transaction	ASXC	Restricted Stock Units	Options Exercise	$0	-84.3K	-100%	$0.00^*	0	Feb 4, 2023	Common Stock	84.3K	$0.00	Direct	F3, F7
transaction	ASXC	Restricted Stock Units	Options Exercise	$0	-19.7K	-50%	$0.00	19.7K	Feb 4, 2023	Common Stock	19.7K	$0.00	Direct	F3, F8
transaction	ASXC	Restricted Stock Units	Options Exercise	$0	-19.7K	-50%	$0.00	19.7K	Feb 4, 2023	Common Stock	19.7K	$0.00	Direct	F5, F9
transaction	ASXC	Restricted Stock Units	Options Exercise	$0	-62.4K	-33.33%	$0.00	125K	Feb 4, 2023	Common Stock	62.4K	$0.00	Direct	F3, F10
transaction	ASXC	Restricted Stock Units	Options Exercise	$0	-62.4K	-33.33%	$0.00	125K	Feb 4, 2023	Common Stock	62.4K	$0.00	Direct	F5, F11

* 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 February 3, 2024, 2025 and 2026, 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 restricted stock unit ("RSU") represents the right to receive one share of the Registrant's common stock.
F4	Forfeiture restrictions will lapse on the RSUs in three equal 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 Employment Agreement.
F5	Each performance-based restricted stock unit ("PRSU") represents the right to receive one share of the Registrant's common stock.
F6	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 met.
F7	Lapse of forfeiture restrictions on discretionary bonus RSUs.
F8	Lapse of forfeiture on second one-third of an award of RSUs from this grant made on February 8, 2021. Forfeiture restrictions will lapse on the remaining RSUs on February 4, 2024, as long as the Reporting Person remains in continuous service during the vesting period, subject to acceleration as set forth in the Registrant's Plan and the Reporting Person's Employment Agreement.
F9	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.
F10	Lapse of forfeiture restrictions on one-third of a RSU award granted on February 4, 2022. Forfeiture restrictions will lapse on the remaining RSUs on 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 Plan and the Reporting Person's Employment Agreement.
F11	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.