Jeffery Neil Stillwell - 22 Nov 2021 Form 4 Insider Report for DELTA APPAREL, INC

Role: President, Salt Life Group
Signature: /s/ Deborah H. Merrill, POA
Issuer symbol: N/A
Transactions as of: 22 Nov 2021
Net transactions value: -$269,130
Form type: 4
Filing time: 24 Nov 2021, 15:11:22 UTC
Previous filing: 13 Oct 2021
Next filing: 18 Jan 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DLA	Common Stock, $0.01 Par Value	Options Exercise	$0	+6,000	+15%	$0.000000	46,981	22 Nov 2021	Direct	F1, F2
transaction	DLA	Common Stock, $0.01 Par Value	Disposed to Issuer	$90,030	-3,000	-6.4%	$30.01	43,981	22 Nov 2021	Direct	F3
transaction	DLA	Common Stock, $0.01 Par Value	Award	$0	+6,360	+14%	$0.000000	50,341	22 Nov 2021	Direct	F2, F4
transaction	DLA	Common Stock, $0.01 Par Value	Disposed to Issuer	$95,432	-3,180	-6.3%	$30.01	47,161	22 Nov 2021	Direct	F5
transaction	DLA	Common Stock, $0.01 Par Value	Tax liability	$83,668	-2,788	-5.9%	$30.01	44,373	22 Nov 2021	Direct	F6

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	DLA	Restricted Stock Units	Options Exercise	$0	-6,000	-100%	$0.000000^*	0	22 Nov 2021	Common Stock, $0.01 Par Value	6,000		Direct	F2, F7

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

Explanation of Responses:

Id	Content
F1	These shares were acquired in connection with the vesting of service-based restricted stock units. One-half of the vested restricted stock units convert into Delta Apparel, Inc. common stock on a one-for-one basis and the remaining half convert into a cash amount equal to the market value of the Company's common stock on the applicable date multiplied by the applicable number of restricted stock units.
F2	Each restricted stock unit represents the right to receive one share of common stock of Delta Apparel, Inc. or the cash equivalent.
F3	These shares were disposed of in connection with the conversion of half of the 6,000 vested restricted units into a cash amount equal to the market value of the Company's common stock on the applicable date multiplied by the applicable number of restricted stock units.
F4	These shares were acquired in connection with the vesting of performance-based restricted stock units. One-half of the vested restricted stock units convert into Delta Apparel, Inc. common stock on a one-for-one basis and the remaining half convert into a cash amount equal to the market value of the Company's common stock on the applicable date multiplied by the applicable number of restricted stock units.
F5	These shares were disposed of in connection with the conversion of half of the 6,360 vested restricted units into a cash amount equal to the market value of the Company's common stock on the applicable date multiplied by the applicable number of restricted stock units.
F6	These shares were withheld by Delta Apparel, Inc. for the payment of a tax liability incident to the vesting of both performance-based and service-based restricted stock units.
F7	The restricted stock units vested upon the November 22, 2021, filing of the Company's Annual Report on Form 10-K for its fiscal year ended October 2, 2021.