William M. Smith - 31 Mar 2022 Form 4 Insider Report for NORTHWEST PIPE CO (NWPX)

Role
Exec VP, Water Transmission
Signature
/s/ William M. Smith
Issuer symbol
NWPX
Transactions as of
31 Mar 2022
Net transactions value
-$56,728
Form type
4
Filing time
04 Apr 2022, 10:15:53 UTC
Previous filing
19 Jan 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NWPX Common Stock Options Exercise +3,710 +11% 38,880 31 Mar 2022 Direct F1
transaction NWPX Common Stock Tax liability $37,132 -1,459 -3.8% $25.45 37,421 31 Mar 2022 Direct F2
transaction NWPX Common Stock Options Exercise +1,958 +5.2% 39,379 31 Mar 2022 Direct F1
transaction NWPX Common Stock Tax liability $19,596 -770 -2% $25.45 38,609 31 Mar 2022 Direct F2

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 NWPX Performance Shares Options Exercise -2,631 -23% 8,949 31 Mar 2022 Common Stock 3,064 Direct F5, F6
transaction NWPX Performance Shares Options Exercise -2,105 -24% 6,844 31 Mar 2022 Common Stock 1,617 Direct F5, F7
holding NWPX Restricted Stock 2,281 31 Mar 2022 Common Stock 2,281 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares acquired pursuant to the vesting of Performance Shares.
F2 Represents shares withheld by the issuer for payment of taxes incurred upon vesting event consistent with company policy.
F3 Each Restricted Stock Unit represents a contingent right to receive one share of Northwest Pipe Company common stock.
F4 The Restricted Stock Units vest in installments in January of 2023 and 2024.
F5 Performance Shares vest in an amount ranging from 0-200% to the extent such Performance Shares are earned. Performance Shares are earned based on Northwest Pipe Company's total EBITDA margin over the measurement period.
F6 Performance Shares vest in installments as follows: 1/3 March 31, 2021, 1/3 on March 31, 2022 and 1/3 on March 31, 2023.
F7 Performance Shares vest in installments as follows: 1/3 on March 31, 2022, 1/3 on March 31, 2023 and 1/3 on April 1, 2024.