Randy Maultsby - 04 Aug 2021 Form 4 Insider Report for TIPTREE INC. (TIPT)

Role
President
Signature
/s/ Neil C. Rifkind, Attorney-in-Fact for Randy Maultsby
Issuer symbol
TIPT
Transactions as of
04 Aug 2021
Net transactions value
$0
Form type
4
Filing time
05 Aug 2021, 14:23:16 UTC
Previous filing
14 Jul 2021
Next filing
22 Nov 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding TIPT Common Stock 64,257 04 Aug 2021 Direct

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 TIPT Performance Restricted Stock Units Award $0 +500,000 $0.000000 500,000 04 Aug 2021 Common Stock 500,000 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share of Tiptree Inc. ("Tiptree") common stock. The PRSUs will vest upon Tiptree achieving each of five Tiptree share price target milestones, based on the average of the thirty (30) trading day closing stock price, ranging from $15 to $60 (adjusted for dividends paid) prior to the tenth anniversary of the date of grant, subject to the Reporting Person's continued employment with Tiptree. Any unvested PRSUs shall expire on August 4, 2031. See the Remarks below for the share price target milestones.

Remarks:

Company Share Price Target*----Number of PRSUs that Vest-----Determination Period $15-----------------------------33,333-----------------------1st Determination Period: Not later than August 4, 2023 $20-----------------------------66,667-----------------------2nd Determination Period: Not later than August 4, 2025 $30----------------------------100,000-----------------------3rd Determination Period: Not later than August 4, 2027 $45----------------------------133,333-----------------------4th Determination Period: Not later than August 4, 2029 $60----------------------------166,667-----------------------Final Determination Period: Not later than August 4, 2031