James F. Oneil - Apr 13, 2022 Form 4 Insider Report for Orbital Energy Group, Inc. (OIG)

Role: Chief Executive Officer, Director
Signature: /s/ James F. O'Neil III
Stock symbol: OIG
Transactions as of: Apr 13, 2022
Transactions value $: -$354,433
Form type: 4
Date filed: 4/18/2022, 11:10 AM
Previous filing: Apr 5, 2022
Next filing: Jul 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OIG	Common Stock	Award		+227K	+18.9%		1.43M	Apr 13, 2022	Direct	F4

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	OIG	Restricted Stock Units	Award	$1.36M	+662K		$2.05^*	662K	Apr 13, 2022	Common Stock	662K		Direct	F1, F2, F3
transaction	OIG	SARs	Disposed to Issuer	-$304K	-188K	-100%	$1.62^*	0	Apr 13, 2022	Common Stock	188K	$1.00	Direct	F5
transaction	OIG	SARs	Disposed to Issuer	-$1.41M	-1.6M	-100%	$0.88^*	0	Apr 13, 2022	Common Stock	1.6M	$2.89	Direct	F6

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

Explanation of Responses:

Id	Content
F1	RSUs were issued in connection with cancellation of previously issued cash-settled SARS. Of the RSUs issued, 373,055 were fully vested and immediately convertible to common stock and the remaining 662,106 will vest in equal installments on the first and second anniversaries of the date of issuance.
F2	RSUs are convertible to common shares on a one-to-one basis.
F3	RSUs do not have expiration dates.
F4	Fully vested RSUs, which were immediately convertible to common stock, were issued in connection with the cancellation of previously issued cash-settled SARs. 373,055 shares were granted and 146,153 were withheld for payroll taxes.
F5	187,500 SARs were exchanged for 148,276 RSUs, of which 134,629 were fully vested and immediately convertible into common stock and 13,647 will vest in equal installments on the first and second anniversaries of the date of issuance.
F6	1,600,000 SARs were exchanged for 886,885 RSUs, of which 238,426 were fully vested and immediately convertible into common stock and 648,459 will vest in equal installments on the first and second anniversaries of the date of issuance.