Richard Danforth - May 26, 2023 Form 4 Insider Report for Genasys Inc. (GNSS)

Role
CEO
Signature
/s/ Dennis D. Klahn as attorney-in-fact for Richard Danforth
Stock symbol
GNSS
Transactions as of
May 26, 2023
Transactions value $
-$206,675
Form type
4
Date filed
5/31/2023, 04:20 PM
Previous filing
Oct 11, 2022
Next filing
Jun 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GNSS Common stock Options Exercise $1.57M +787K +12103.8% $1.99 793K May 26, 2023 Direct
transaction GNSS Common stock Tax liability -$1.77M -640K -80.66% $2.77 153K May 26, 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 GNSS Stock options Options Exercise $0 -224K -59.8% $0.00 151K May 26, 2023 Common stock 224K $1.99 Direct F1
transaction GNSS Stock options Options Exercise $0 -563K -100% $0.00* 0 May 26, 2023 Common stock 563K $1.99 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Grant to reporting person on August 1, 2016 of an option to purchase 375,000 shares. The option vested as to 1/3 of the shares on August 1, 2017 and 1/12 of the shares quarterly thereafter until fully vested.
F2 On August 1, 2016, the reporting person was granted an option to purchase shares of common stock that vested based upon Genasys achieving specified performance targets for its fiscal years ended September 30, 2019 and September 30, 2020. Genasys' performance for fiscal year 2019 resulted in the vesting of options to purchase 187,500 shares and Genasys' performance for fiscal year 2020 resulted in the vesting of options to purchase 375,000 shares.