Richard Bays - 22 Jan 2024 Form 4 Insider Report for Terran Orbital Corp

Role: SVP & CIO
Signature: /s/ James S. Black, attorney-in-fact
Issuer symbol: N/A
Transactions as of: 22 Jan 2024
Net transactions value: -$7,636
Form type: 4
Filing time: 23 Jan 2024, 17:00:33 UTC
Previous filing: 02 Oct 2023
Next filing: 03 Jun 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LLAP	Common Stock, par value $0.0001 per share	Options Exercise	$0	+25,000	+286%	$0.000000	33,750	22 Jan 2024	Direct	F1
transaction	LLAP	Common Stock, par value $0.0001 per share	Tax liability	$7,636	-8,983	-27%	$0.8500	24,767	22 Jan 2024	Direct	F2

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	LLAP	Restricted Stock Units	Options Exercise	$0	-25,000	-16%	$0.000000	135,000	22 Jan 2024	Common Stock	25,000	$0.000000	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Shares acquired represent settlement of vested restricted stock units on a one-for-one basis.
F2	Shares withheld to pay taxes applicable to settlement of vested restricted stock units.
F3	Each restricted stock unit represents a contingent right to receive one share of LLAP common stock subject to vesting in four equal annual installments on each anniversary of November 4, 2022, the vesting start date.