David M. Farrell - Feb 19, 2022 Form 4 Insider Report for GTY Technology Holdings Inc. (GTYH)

Role: COO OF GTY AND CEO OF SHERPA
Signature: /s/ Jon C. Bourne, Attorney-in-Fact
Stock symbol: GTYH
Transactions as of: Feb 19, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/22/2022, 05:28 PM
Previous filing: Feb 14, 2022
Next filing: Mar 8, 2022

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	GTYH	Performance Restricted Stock Units	Other		+25K	+25.73%		122K	Feb 19, 2022	Common Stock	25K		Direct	F1

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

Explanation of Responses:

Id	Content
F1	On or or about March 12, 2020, the Compensation Committee (the "Committee") of the issuer determined based on incorrect information presented to it that 25,000 of the performance-based restricted stock units originally granted to the reporting person on October 31, 2019 had been forfeited because performance goals for 2019 had not been achieved. Based on additional information, the Committee retracted and rescinded that determination in its entirety effective February 19, 2022 as a result of the Committee's conclusion that those performance goals had indeed been achieved. Each restricted stock unit represents a right to receive one share of issuer's common stock, vested on February 19, 2022 and may be settled in shares of the issuer's common stock or cash.

Content

On or or about March 12, 2020, the Compensation Committee (the "Committee") of the issuer determined based on incorrect information presented to it that 25,000 of the performance-based restricted stock units originally granted to the reporting person on October 31, 2019 had been forfeited because performance goals for 2019 had not been achieved. Based on additional information, the Committee retracted and rescinded that determination in its entirety effective February 19, 2022 as a result of the Committee's conclusion that those performance goals had indeed been achieved. Each restricted stock unit represents a right to receive one share of issuer's common stock, vested on February 19, 2022 and may be settled in shares of the issuer's common stock or cash.