Stefan B. Schulz - Jan 18, 2022 Form 4 Insider Report for PROS Holdings, Inc. (PRO)

Signature
Damian W. Olthoff, attorney-in-fact for Stefan B. Schulz
Stock symbol
PRO
Transactions as of
Jan 18, 2022
Transactions value $
$476,884
Form type
4
Date filed
1/20/2022, 04:22 PM
Previous filing
Jan 18, 2022
Next filing
Feb 8, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRO Common Stock Options Exercise $257K +9.08K +3.28% $28.27 286K Jan 18, 2022 Direct F1
transaction PRO Common Stock Sale -$108K -3.81K -1.33% $28.33 282K Jan 19, 2022 Direct F2, F3
transaction PRO Common Stock Options Exercise $541K +19.1K +6.79% $28.27 301K Jan 18, 2022 Direct
transaction PRO Common Stock Tax liability -$213K -7.53K -2.5% $28.27 294K Jan 18, 2022 Direct F4

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 PRO Restricted Stock Units Options Exercise $0 +9.08K +10.57% $0.00 95K Jan 18, 2022 Common Stock 9.08K Direct F5, F6, F7
transaction PRO Market Stock Units Options Exercise $0 +19.1K +15.57% $0.00 142K Jan 18, 2022 Common Stock 19.1K Direct F8, F9, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price represents the price of PROS Holdings, Inc. ("PROS") common stock at the close of market on January 18, 2022.
F2 The sale of shares reported on this Form 4 were made solely to cover tax withholding obligations of the Reporting Person and were sold pursuant to a Rule 10b5-1 trading plan dated December 8, 2021.
F3 This price represents a weighted average price. These shares were sold in fifty nine (59) transactions at prices ranging from $26.81 to $28.33. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.
F4 Represents the number of net shares withheld to cover taxes.
F5 Each restricted stock unit ("RSU") represents the contingent right to receive one share of PROS common stock.
F6 This is the third tranche of a RSU grant, awarded on January 15, 2019 in the amount of 36,309 units, that vest annually, in equal installments over a four-year period on January 15 of each year.
F7 Includes: (i) 9,078 unvested RSUs awarded on January 15, 2019 - the award vests in four equal annual installments which began on January 15, 2020, with a final lapse date of January 15, 2023; (ii) 11,300 unvested RSUs awarded on January 13, 2020 - the award vests in four equal annual installments beginning January 13, 2021, with a final lapse date of January 13, 2024; (iii) 27,945 unvested RSUs awarded on January 11, 2021 - the award vests in four equal annual installments beginning January 11, 2022, with a final lapse date of January 11, 2025; and (iv) 46,656 unvested RSUs awarded on January 10, 2022 - the award will vest at 25% after one year on the anniversary date, and the remainder will vest at the rate of 6.25% on the 10th day of the first month of each quarter thereafter.
F8 One share of PROS common stock will be issued for each performance share ("MSU") that vests.
F9 These performance MSUs vested on January 18, 2022 at 79.09% of target (24,206). The final award was based on PROS total recurring revenue measured according to U.S. generally accepted accounting principles meeting certain minimum performance hurdles for the performance period of January 1, 2019 to December 31, 2020.
F10 The performance grants listed in this footnote represent the maximum possible number of shares which may be earned at 200% of target award, and include: (i) 30,200 performance RSUs - the performance period for these shares will end on December 31, 2021 and will vest on January 13, 2023, and is associated with a February 7, 2020 grant; (ii) 49,678 MSUs - the performance period for these shares will end on December 31, 2023 and will vest on January 31, 2024, associated with a January 11, 2021 grant; and (iii) 62,208 MSUs - the performance period for these shares will end on December 31, 2024, and is associated with a January 10, 2022 grant.