Eric F. Seeton - 03 Oct 2022 Form 4 Insider Report for Franchise Group, Inc. (TAX)

Role: CHIEF FINANCIAL OFFICER
Signature: /s/ Eric F. Seeton
Issuer symbol: TAX
Transactions as of: 03 Oct 2022
Net transactions value: -$94,260
Form type: 4
Filing time: 05 Oct 2022, 16:15:53 UTC
Previous filing: 09 Mar 2022
Next filing: 09 Nov 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FRG FRGAP	Common Stock	Options Exercise		+6,945	+23%		37,034	03 Oct 2022	Direct	F1, F2
transaction	FRG FRGAP	Common Stock	Tax liability	$94,260	-3,879	-10%	$24.30^*	33,155	03 Oct 2022	Direct	F3

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	FRG FRGAP	Restricted Stock Units	Options Exercise	$0	-6,945	-100%	$0.000000^*	0	03 Oct 2022	Common Stock	6,945		Direct	F2, F4

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

Explanation of Responses:

Id	Content
F1	Represents the conversion upon vesting of restricted stock units into Common Stock. On December 5, 2019, the reporting person was granted 20,833 restricted stock units, of which one-third of the shares subject to the restricted stock units vested on October 2, 2022. Such restricted stock units were previously reported in Table II on the Form 4 filed with the Securities and Exchange Commission on December 9, 2019.
F2	Each restricted stock unit represents the right to receive, upon vesting, one share of Common Stock.
F3	Reflects 3879 shares withheld by Issuer at market price of $24.30 per share to fund the payment of taxes for the conversion.
F4	This restricted stock unit award was granted on December 5, 2019 and one-third of the restricted stock units vested on October 2, 2022.