Christopher D. Farrar - 14 Feb 2022 Form 4 Insider Report for Velocity Financial, Inc. (VEL)

Role
Chief Executive Officer, Director
Signature
/s/ Roland T. Kelly, by power of attorney
Issuer symbol
VEL
Transactions as of
14 Feb 2022
Transactions value $
$1,136,700
Form type
4
Filing time
16 Feb 2022, 15:20:42 UTC
Next filing
13 Jan 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VEL Common Stock Award $568K +45K +24.32% $12.63 230K 14 Feb 2022 Direct F1
transaction VEL Performance Stock Units Award $568K +45K +19.57% $12.63 275K 14 Feb 2022 Direct F3
holding VEL Common Stock 143K 14 Feb 2022 FN 2 F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Acquisition of restricted stock subject to annual vesting ratably over three years from grant date.
F2 Held indirectly through through a family trust.
F3 Grant of Performance Stock Units. Under the terms of the grant, 100% of the PSUs are subject to forfeiture based on Velocity's average annual performance as measured by Core Net Income Annual Growth for fiscal years 2022, 2023 and 2024 with potential vesting of 0 to 90,000 shares following fiscal year end 2024.