Matthew Gann - 30 Mar 2023 Form 3 Insider Report for Terran Orbital Corp

Role
SVP, Strategy & Business Dev.
Signature
/s/ James S. Black, attorney-in-fact
Issuer symbol
N/A
Transactions as of
30 Mar 2023
Net transactions value
$0
Form type
3
Filing time
10 Apr 2023, 18:03:33 UTC
Next filing
01 Aug 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LLAP Common stock, par value $0.0001 per share 87,075 30 Mar 2023 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
holding LLAP Incentive Stock Option (right to buy) 30 Mar 2023 Common Stock 110,340 $1.41 Direct F1
holding LLAP Restricted Stock Units 30 Mar 2023 Common Stock 137,925 Direct F2
holding LLAP Restricted Stock Units 30 Mar 2023 Common Stock 200,000 Direct F3
holding LLAP $11 Restricted Stock Units 30 Mar 2023 Common Stock 52,963 Direct F4
holding LLAP $13 Restricted Stock Units 30 Mar 2023 Common Stock 44,825 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This stock option is fully vested and exercisable.
F2 Each restricted stock unit represents a contingent right to receive one share of LLAP common stock subject to time-based vesting over four equal annual installments occurring on each anniversary of the vesting start date. Vesting start date is February 24, 2021.
F3 Each restricted stock unit represents a contingent right to receive one share of LLAP common stock subject to time-based vesting over four equal annual installments occurring on each anniversary of the vesting start date. Vesting start date is November 4, 2022.
F4 Each retention restricted stock unit represents a contingent right to receive one share of LLAP common stock. Such restricted stock will vest upon satisfying two remaining conditions: (i) Reporting Person must be in continuous employment with the Issuer or its subsidiaries for one year starting on March 25, 2022 and (ii) the market price of LLAP common stock being at or greater than $11/share in 20 out of 30 trading days during a five year period starting March 25, 2022.
F5 Each retention restricted stock unit represents a contingent right to receive one share of LLAP common stock. Such restricted stock will vest upon satisfying two remaining conditions: (i) Reporting Person must be in continuous employment with the Issuer or its subsidiaries for one year starting on March 25, 2022 and (ii) the market price of LLAP common stock being at or greater than $13/share in 20 out of 30 trading days during a five year period starting March 25, 2022.

Remarks:

See Exhibit 24.1 - Power of Attorney