Tammy Ridgley - Mar 28, 2022 Form 3 Insider Report for TESSCO TECHNOLOGIES INC (TESS)

Role: Senior Vice President
Signature: Tammy Ridgley by Aric Spitulnik by Power of Attorney
Stock symbol: TESS
Transactions as of: Mar 28, 2022
Transactions value $: $0
Form type: 3
Date filed: 4/7/2022, 05:00 PM
Next filing: May 27, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	TESS	Common Stock						899	Mar 28, 2022	Direct
holding	TESS	Common Stock						468	Mar 28, 2022	Direct	F1
holding	TESS	Common Stock						2.14K	Mar 28, 2022	Shares owned indirectly through 401K Plan
holding	TESS	Common Stock						3.02K	Mar 28, 2022	Shares owned indirectly through TESSCO Team Member Stock Purchase Plan

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	TESS	Employee Stock Option							Mar 28, 2022	Common Stock	5K	$18.03	Direct	F2
holding	TESS	Employee Stock Option							Mar 28, 2022	Common Stock	20K	$4.36	Direct	F3
holding	TESS	Employee Stock Option							Mar 28, 2022	Common Stock	20K	$7.37	Direct	F4

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

Explanation of Responses:

Id	Content
F1	Reflects 468 shares earned but not yet vested in respect of Performance Stock Units (or PSUs) awarded for performance year fiscal 2019, to be issued in May 2022; subject to continued association as per below. The Reporting Person elected to report remaining PSUs for performance year fiscal 2019 in Table I. PSUs are awarded for a given performance year and earned insofar as applicable performance metrics are satisfied, whereupon 75% of the shares earned are issued and the remaining 25% are issued in one subsequent equal annual installment, provided the Reporting Person remains associated with Issuer on the applicable date.
F2	With respect to the Employee Stock Options granted on May 10, 2019, the options vest 25% after 1 year and then the remainder vests 1/36 each month for 3 years.
F3	With respect to the Employee Stock Options granted on May 15, 2020, the options vest 25% after 1 year and then the remainder vests 1/36 each month for 3 years.
F4	With respect to the Employee Stock Options granted on April 29, 2021, the options vest 25% after 1 year and then the remainder vests 1/36 each month for 3 years.