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

Role
Exec VP, Water Transmission
Signature
/s/ William M. Smith
Stock symbol
NWPX
Transactions as of
Mar 31, 2022
Transactions value $
-$56,728
Form type
4
Date filed
4/4/2022, 10:15 AM
Previous filing
Jan 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NWPX Common Stock Options Exercise +3.71K +10.55% 38.9K Mar 31, 2022 Direct F1
transaction NWPX Common Stock Tax liability -$37.1K -1.46K -3.75% $25.45 37.4K Mar 31, 2022 Direct F2
transaction NWPX Common Stock Options Exercise +1.96K +5.23% 39.4K Mar 31, 2022 Direct F1
transaction NWPX Common Stock Tax liability -$19.6K -770 -1.96% $25.45 38.6K Mar 31, 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 -2.63K -22.72% 8.95K Mar 31, 2022 Common Stock 3.06K Direct F5, F6
transaction NWPX Performance Shares Options Exercise -2.11K -23.52% 6.84K Mar 31, 2022 Common Stock 1.62K Direct F5, F7
holding NWPX Restricted Stock 2.28K Mar 31, 2022 Common Stock 2.28K 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.