Kevin J. Kenny - 03 Apr 2023 Form 4 Insider Report for Orthofix Medical Inc. (OFIX)

Role
President of Global Spine
Signature
/s/ Patrick Keran, attorney-in-fact
Issuer symbol
OFIX
Transactions as of
03 Apr 2023
Net transactions value
-$32,763
Form type
4
Filing time
05 Apr 2023, 18:38:54 UTC
Previous filing
03 Feb 2023
Next filing
12 Apr 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OFIX Common Stock Tax liability $32,763 -1,956 -1.4% $16.75 141,275 03 Apr 2023 Direct
transaction OFIX Common Stock Award $0 +7,449 +5.3% $0.000000 148,724 04 Apr 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 OFIX Performance Share Units Award $0 +5,959 $0.000000 5,959 04 Apr 2023 Common Stock 5,959 $0.000000 Direct F2
transaction OFIX Employee Stock Option (Right to Buy) Award $0 +17,061 $0.000000 17,061 04 Apr 2023 Common Stock 17,061 $16.78 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 121,401 previously reported unvested restricted stock units.
F2 Represents performance-based vesting restricted stock units ("PSUs") that will settle as common stock on a one-for-one basis. Under the terms of the grant, the PSUs may vest based upon achievement of an operating expense synergy target (on an annualized basis) for calendar year 2023 (the "Synergy Target"). The amount in the table above represents the target number of PSUs granted. The Synergy Target vesting percentage can be achieved at 100% (if 100% or more of the Synergy Target is achieved), 80% (if 80% but less than 100% of the Synergy Target is achieved), or 0% (if less than 80% of the Synergy Target is achieved).
F3 The options vest and become exercisable with respect to one-third (1/3rd) of the shares covered thereby on the first anniversary of the Grant Date and one-twelfth (1/12th) of the shares covered thereby on each of the 15-month, 18-month, 21-month, 24-month, 27-month, 30-month, 33-month and 36-month anniversaries of the Grant Date.