Adam Havey - Feb 28, 2022 Form 4 Insider Report for Emergent BioSolutions Inc. (EBS)

Role: EVP, Business Operations
Signature: /s/ S. Scott Lieberman, Attorney-in-fact
Stock symbol: EBS
Transactions as of: Feb 28, 2022
Transactions value $: $1,720,625
Form type: 4
Date filed: 3/2/2022, 06:25 PM
Previous filing: Feb 25, 2022
Next filing: Feb 10, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EBS	Common Stock	Award	$0	+32.3K	+87.85%	$0.00	69.1K	Mar 1, 2022	Direct	F1
transaction	EBS	Common Stock	Award	$0	+17.8K	+25.79%	$0.00	86.9K	Mar 1, 2022	Direct	F2
transaction	EBS	Common Stock	Tax liability	-$29.3K	-739	-0.85%	$39.64	86.2K	Feb 28, 2022	Direct	F3

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	EBS	Employee Stock Options (Right to Buy)	Award	$1.75M	+42.3K		$41.38	42.3K	Mar 1, 2022	Common Stock	42.3K	$41.38	Direct	F4

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

Explanation of Responses:

Id	Content
F1	Consists of restricted stock units granted under the company's Stock Incentive Plan. These restricted stock units vest either in three equal annual installments beginning on the day prior to the first anniversary of the date of grant (10,573 shares) or on the day prior to the second anniversary date of the grant (21,750 shares), assuming continued service with the company. Each restricted stock unit represents the right of the Reporting Person to receive one share of common stock of Emergent BioSolutions Inc., subject to adjustment as provided in the grant agreement.
F2	Consists of performance stock units granted under the Emergent BioSolutions Inc. Stock Incentive Plan. Each PSU represents a right to receive one share of common stock. The PSUs vest upon achievement with respect to adjusted EBITDA as a percentage of total GAAP revenue calculated on a cumulative basis over the three-year period beginning January 1, 2022 and ending December 31, 2024, as certified by the Compensation Committee following the performance period. The amount reported is based on the target performance payout factor, or 100%.
F3	Represents shares of common stock withheld by the Company in exchange for payment of the employee's withholding taxes.
F4	Vests in three equal installments beginning on the day prior to the first anniversary of the date of grant, assuming continued service with the company.