Timothy G. Hannon - 22 Mar 2022 Form 4 Insider Report for WAVEDANCER, INC. (AIFF)

Role: CFO
Signature: /s/ Matthew T. Sands
Issuer symbol: AIFF
Transactions as of: 22 Mar 2022
Net transactions value: +$1,122,750
Form type: 4
Filing time: 23 Mar 2022, 19:46:39 UTC
Previous filing: 03 Jan 2022
Next filing: 23 Nov 2022
SEC: View on sec.gov

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	WAVD	Options (Right-to-Buy)	Award	$1,122,750	+225,000	+900%	$4.99^*	250,000	22 Mar 2022	Common Stock	225,000	$4.99	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	One-third of awarded shares vest each year over three years. 75,000 shares are exercisable on 03/22/2023, an additional 75,000 shares are exercisable on 03/22/2024, and an additional 75,000 shares are exercisable on 03/22/2025. Upon Termination "Without Cause" or "by Participant for Good Reason" within the first year as defined in the employee's Employment Agreement, such vesting date will accelerate to the termination date.
F2	Granted pursuant to and in accordance with the WaveDancer 2021 Stock Incentive Plan.

Content

One-third of awarded shares vest each year over three years. 75,000 shares are exercisable on 03/22/2023, an additional 75,000 shares are exercisable on 03/22/2024, and an additional 75,000 shares are exercisable on 03/22/2025. Upon Termination "Without Cause" or "by Participant for Good Reason" within the first year as defined in the employee's Employment Agreement, such vesting date will accelerate to the termination date.

Granted pursuant to and in accordance with the WaveDancer 2021 Stock Incentive Plan.