Randy Maultsby - Nov 22, 2021 Form 4 Insider Report for TIPTREE INC. (TIPT)

Role
President, Director
Signature
/s/ Neil C. Rifkind, Attorney-in-Fact for Randy Maultsby
Stock symbol
TIPT
Transactions as of
Nov 22, 2021
Transactions value $
-$268,380
Form type
4
Date filed
11/22/2021, 04:04 PM
Previous filing
Aug 5, 2021
Next filing
Mar 2, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TIPT Common Stock Options Exercise +33.3K +51.87% 97.6K Nov 22, 2021 Direct F1
transaction TIPT Common Stock Tax liability -$268K -17.8K -18.19% $15.12 79.8K Nov 22, 2021 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 TIPT Performance Restricted Stock Units Options Exercise $0 -33.3K -6.67% $0.00 467K Nov 22, 2021 Common Stock 33.3K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The acquisition of the common stock resulted from the vesting of an equal number of performance restricted stock units ("PRSUs") granted on August 4, 2021. Each PRSU represents a contingent right to receive one share of Tiptree Inc. ("Tiptree") common stock.
F2 Shares withheld to satisfy the Reporting Person's withholding tax liability upon vesting of PRSUs issued to the Reporting Person on August 4, 2021.
F3 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.