Nicholas M. Grindstaff - Sep 15, 2022 Form 4 Insider Report for Orbital Infrastructure Group, Inc. (OIG)

Role: Chief Financial Officer
Signature: /s/ Nicholas M. Grindstaff
Stock symbol: OIG
Transactions as of: Sep 15, 2022
Transactions value $: $0
Form type: 4
Date filed: 10/17/2022, 08:41 PM
Previous filing: Nov 23, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OIG	Common Stock	Award		+154K	+108.57%		296K	Sep 15, 2022	Direct	F1, 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	OIG	Restricted Stock Units	Award		+500K			500K	Sep 15, 2022	Common Stock	500K		Direct	F3, F4, F5, F6

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

Explanation of Responses:

Id	Content
F1	250,000 fully vested Restricted stock units were granted and issued net of 95,894 shares withheld for taxes.
F2	Shares were issued as part of employee agreement based on a market price of $0.63.
F3	250,000 shares will vest on 9/15/23 and 250,000 shares will vest on 9/15/24
F4	RSUs vest and automatically convert to common stock in three tranches, 9/15/22, 9/15/23 and 9/15/24.
F5	RSU shares convert to common stock on a 1 for 1 basis at the market rate of the common stock on the vesting date.
F6	Price of RSU corresponds to the market price of the common stock, which was $0.63 on 9/15/22.