Roland T. Kelly - 23 Jan 2024 Form 4 Insider Report for Velocity Financial, Inc. (VEL)

Role
Chief Legal Officer and GC
Signature
/s/ Roland T. Kelly
Issuer symbol
VEL
Transactions as of
23 Jan 2024
Net transactions value
+$375,374
Form type
4
Filing time
25 Jan 2024, 15:40:21 UTC
Previous filing
17 Jan 2024
Next filing
16 Feb 2024
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 $187,687 +11,834 +19% $15.86 74,592 23 Jan 2024 Direct F1
transaction VEL Performance Stock Units Award $187,687 +11,834 +16% $15.86 86,426 23 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 VEL Option - Right to Buy Award $0 +100 $0.000000 100 23 Jan 2024 Common Stock 100 $15.86 Direct F3
* 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 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 2024, 2025 and 2026 with potential vesting of 0 to 200% of the granted PSUs following fiscal year end 2026.
F3 Acquisition of options subject to annual vesting ratably over three years from grant date.