Scott T. McKinney - 31 Mar 2023 Form 3 Insider Report for TIPTREE INC. (TIPT)

Role
Chief Financial Officer
Signature
/s/ Neil C. Rifkind, Attorney-in-Fact for Scott T. McKinney
Issuer symbol
TIPT
Transactions as of
31 Mar 2023
Net transactions value
$0
Form type
3
Filing time
03 Apr 2023, 13:36:17 UTC
Next filing
02 Jan 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding TIPT Common Stock 55,194 31 Mar 2023 Direct
holding TIPT Common Stock 168 31 Mar 2023 By 401K

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
holding TIPT Performance Restricted Stock Units 31 Mar 2023 Common Stock 350,000 Direct F1
holding TIPT Restricted Stock Units 31 Mar 2023 Common Stock 30,846 $0.000000 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person was granted performance restricted stock units (PRSUs) on October 14, 2022. Each PRSU represents a contingent right to receive one share of Tiptree Inc. ("Tiptree") Common Stock. The PRSUs will vest upon Tiptree achieving each of four Tiptree share price target milestones, based on the average of the thirty (30) trading day closing stock price, ranging from $20 to $60 (adjusted for dividends paid) prior to August 4, 2031, 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.
F2 The Reporting Person was granted 7,868 matching restricted stock units (RSUs) on February 17, 2022 and 7,555 matching RSUs on February 22, 2023. Each grant represents the right to receive 2 shares of the Issuer's Common Stock for each RSU, pursuant to the Issuer's Equity Plan. The RSUs will cliff vest on each of February 20, 2025 and February 20, 2026, respectively, upon continuous employment from the grant date until such date, subject to certain terms contained in the Reporting Person's award agreement.

Remarks:

Company Share Price Target*----Number of PRSUs that Vest-----Determination Period $20---------------------------50,000-----------------------1st Determination Period: Not later than August 4, 2025 $30---------------------------75,000-----------------------2nd Determination Period: Not later than August 4, 2027 $45---------------------------100,000----------------------3rd Determination Period: Not later than August 4, 2029 $60---------------------------125,000----------------------Final Determination Period: Not later than August 4, 2031 Attached Power of Attorney filed as Exhibit 24.