Michael Wray - Apr 8, 2023 Form 4 Insider Report for NORTHWEST PIPE CO (NWPX)

Role
SVP/GM, Precast Infrastructure
Signature
/s/ Michael Wray
Stock symbol
NWPX
Transactions as of
Apr 8, 2023
Transactions value $
$0
Form type
4
Date filed
4/11/2023, 01:46 PM
Previous filing
Apr 4, 2023
Next filing
Jan 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding NWPX Common Stock 10.3K Apr 8, 2023 Direct

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 Restricted Stock Award +2.75K +156.9% 4.51K Apr 8, 2023 Common Stock 2.75K Direct F1, F3
transaction NWPX Performance Shares Award +8.26K +156.91% 13.5K Apr 8, 2023 Common Stock 8.26K Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit represents a contingent right to receive one share of Northwest Pipe Company common stock.
F2 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.
F3 The Restricted Stock Units vest in installments as follows: 1/3 on January 16, 2024, 1/3 on January 15, 2025 and 1/3 on January 15, 2026.
F4 Performance Shares vest in installments as follows: 1/3 on April 1, 2024, 1/3 on March 31, 2025 and 1/3 on March 31, 2026.