David Raun - Jun 16, 2023 Form 4 Insider Report for ONE STOP SYSTEMS, INC. (OSS)

Role: President and CEO, Director
Signature: /s/ David Raun
Stock symbol: OSS
Transactions as of: Jun 16, 2023
Transactions value $: -$156,005
Form type: 4
Date filed: 6/21/2023, 08:26 PM
Previous filing: Jun 21, 2023
Next filing: Jun 27, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OSS	Common Stock	Options Exercise		+68.7K	+15.4%		515K	Jun 16, 2023	Direct	F1, F2
transaction	OSS	Common Stock	Tax liability	-$156K	-52.9K	-10.28%	$2.95	462K	Jun 16, 2023	Direct	F3, F4
transaction	OSS	Common Stock	Disposed to Issuer	$0	-59.6K	-12.9%	$0.00	402K	Jun 16, 2023	Direct	F5

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	OSS	Restricted Stock Units	Options Exercise	$0	-68.7K	-100%	$0.00^*	0	Jun 16, 2023	Common Stock	68.7K		Direct	F1, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted stock units convert into shares of common stock on a one-for-one basis.
F2	Includes 134,000 unvested restricted stock units held by the Reporting Person, which remain subject to certain vesting conditions.
F3	The Reporting Person forfeited 52,883 shares of common stock upon conversion of 143,122 vested and outstanding restricted stock units into shares of common stock to cover tax withholdings, 68,688 of which restricted stock units were reported in Table II and the remaining 74,434 restricted stock units were reported in Table I, using the market price of the Issuer's common stock at the time of forfeiture.
F4	Includes 59,566 unvested restricted stock units held by the Reporting Person, which remain subject to certain vesting conditions.
F5	The Reporting Person forfeited 59,566 unvested restricted stock units in connection with the termination of the Reporting Person's employment as President and CEO of the Issuer. As a result, the Reporting Person no longer holds any unvested restricted stock units.
F6	The restricted stock units ("RSUs") were scheduled to vest over three years, with 1/3 of the RSUs vesting following the one-year anniversary of the date of grant, and the remaining RSUs vesting in four equal installments, commencing six months after the one-year anniversary of the date of grant and every six months thereafter until fully vested, provided that grantee is still employed on each such vesting date. In connection with the termination of the Reporting Person's employment as President and CEO of the Issuer, vesting of the remaining RSUs accelerated and the RSUs became fully vested as of the date of such termination.