Santina M. Michel - Mar 30, 2023 Form 3 Insider Report for Terran Orbital Corp (LLAP)

Role
SVP and Chief HR Officer
Signature
/s/ James S. Black, attorney-in-fact
Stock symbol
LLAP
Transactions as of
Mar 30, 2023
Transactions value $
$0
Form type
3
Date filed
4/10/2023, 06:05 PM
Next filing
Aug 1, 2023

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 38.5K Mar 30, 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 Restricted Stock Units Mar 30, 2023 Common Stock 38.5K Direct F1
holding LLAP Restricted Stock Units Mar 30, 2023 Common Stock 100K Direct F2
holding LLAP $11 Restricted Stock Units Mar 30, 2023 Common Stock 35.3K Direct F3
holding LLAP $13 Restricted Stock Units Mar 30, 2023 Common Stock 29.9K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 March 1, 2021.
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 November 4, 2022.
F3 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.
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 $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