Eric Stokes - Mar 31, 2023 Form 4 Insider Report for NORTHWEST PIPE CO (NWPX)

Role
SVP/GM of Engineered SPP
Signature
/s/ Eric Stokes
Stock symbol
NWPX
Transactions as of
Mar 31, 2023
Transactions value $
-$106,026
Form type
4
Date filed
4/4/2023, 04:13 PM
Previous filing
Jan 18, 2023
Next filing
Apr 11, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NWPX Common Stock Options Exercise +3.45K +27.31% 16.1K Mar 31, 2023 Direct F1
transaction NWPX Common Stock Tax liability -$42.4K -1.36K -8.44% $31.23 14.7K Mar 31, 2023 Direct F2
transaction NWPX Common Stock Options Exercise +2.19K +14.87% 16.9K Mar 31, 2023 Direct F1
transaction NWPX Common Stock Tax liability -$26.9K -862 -5.09% $31.23 16.1K Mar 31, 2023 Direct F2
transaction NWPX Common Stock Options Exercise +2.99K +18.59% 19.1K Mar 31, 2023 Direct F1
transaction NWPX Common Stock Tax liability -$36.7K -1.18K -6.17% $31.23 17.9K Mar 31, 2023 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 -2.17K -17.46% 10.3K Mar 31, 2023 Common Stock 3.45K Direct F3, F4
transaction NWPX Performance Shares Options Exercise -1.74K -16.94% 8.53K Mar 31, 2023 Common Stock 2.19K Direct F3, F5
transaction NWPX Performance Shares Options Exercise -2.26K -26.53% 6.27K Mar 31, 2023 Common Stock 2.99K Direct F3, F6
holding NWPX Restricted Stock 2.09K Mar 31, 2023 Common Stock Direct F7, F8
* 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 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.
F4 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.
F5 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.
F6 Performance Shares vest in installments as follows: 1/3 on March 31, 2023, 1/3 on April 1, 2024 and 1/3 on March 31, 2025.
F7 Each Restricted Stock Unit represents a contingent right to receive one share of Northwest Pipe Company common stock.
F8 The Restricted Stock Units vest in installments in January of 2024 and 2025.