Eshel Bar-Adon - 20 Mar 2023 Form 4 Insider Report for Axos Financial, Inc. (AX)

Role
EVP, Chief Legal Officer
Signature
By: Derrick K. Walsh For: Eshel Bar-Adon
Issuer symbol
AX
Transactions as of
20 Mar 2023
Net transactions value
+$16,836
Form type
4
Filing time
23 Mar 2023, 17:25:59 UTC
Previous filing
16 Mar 2023
Next filing
24 Mar 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AX Common Stock Options Exercise $40,849 +1,087 +0.95% $37.58 115,344 20 Mar 2023 Direct F1, F2
transaction AX Common Stock Disposed to Issuer $24,014 -639 -0.55% $37.58 114,705 20 Mar 2023 Direct F3
holding AX Common Stock 2,497 20 Mar 2023 401(k) Plan

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 AX Restricted Stock Units Options Exercise $0 -1,087 -5.2% $0.000000 19,889 20 Mar 2023 Common Stock 1,087 Direct F2, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Represents shares of Common Stock issued on March 20, 2023, following the vesting of Restricted Stock Units ("RSUs") which vest as to one-third of the shares on each anniversary of the date of grant. The RSUs were previously granted to the reporting person under the Axos Financial, Inc. 2014 Stock Incentive Plan.
F2 Each RSU represents a contingent right to receive one share of Axos Financial, Inc. Common Stock.
F3 Represents shares of Common Stock retained by Axos Financial, Inc. in exchange for cash paid to the reporting person for tax liabilities in respect to the vested RSUs.
F4 The RSUs were granted to the reporting person under the Axos Financial, Inc. 2014 Stock Incentive Plan. The RSUs are accompanied by dividend equivalent rights.
F5 The RSUs vest as to one-third of the shares on each anniversary date of grant.