Iain Black - Mar 23, 2023 Form 4 Insider Report for EMCORE CORP (EMKR)

Signature
Ryan Hochgesang, attorney in fact
Stock symbol
EMKR
Transactions as of
Mar 23, 2023
Transactions value $
-$3,399
Form type
4
Date filed
3/27/2023, 04:09 PM
Previous filing
Dec 22, 2022
Next filing
Apr 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EMKR Restricted Stock Units Award +56.4K +102.83% 111K Mar 23, 2023 Direct F1
transaction EMKR Common Stock Tax liability -$3.4K -2.96K -2.66% $1.15 108K Mar 23, 2023 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 EMKR Performance-Based Restricted Stock Units (PSUs) Award $0 +56.4K $0.00 56.4K Mar 23, 2023 Common Stock 56.4K Direct F3, 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 (RSU) represents a contingent right to receive one share of EMCORE common stock. The RSUs were issued pursuant to the Amended and Restated EMCORE Corporation 2019 Equity Incentive Plan. The RSUs vest as to 1/4 of the underlying shares on each of the first four anniversaries of the grant date, subject to the Reporting Person's continued service with the Issuer through the applicable vesting date.
F2 On March 23, 2021, the Reporting Person was granted 29,000 RSUs, vesting in four equal annual installments beginning on the first anniversary of the grant date, which grant was previously reported on a Form 4, Table I. The Reporting Person vested in 7,250 shares on March 23, 2023 from this RSU award. The number of shares reported here represents the number of shares required to be withheld in accordance with Rule 16b-3 to cover the Reporting Person's tax withholding obligation in connection with the vesting of the RSUs on March 23, 2023.
F3 Each Performance-Based Restricted Stock Unit (PSU) represents a contingent right to receive one share of EMCORE common stock, based on a threshold average closing share price for EMCORE's common stock, as set by the Compensation Committee of the Board of Directors, during any 30-day period within the three-year period following the grant date.
F4 Either zero (0) or 100% of the PSUs will vest, if at all, on March 23, 2026, subject to the Reporting Person's continued service with the Issuer through such date.