Steven C. Lockard - May 11, 2021 Form 4 Insider Report for TPI COMPOSITES, INC (TPIC)

Role: Director
Signature: /s/ Steven G. Fishbach, Attorney-in-Fact
Stock symbol: TPIC
Transactions as of: May 11, 2021
Transactions value $: -$7,563,367
Form type: 4
Date filed: 5/13/2021, 08:23 PM
Next filing: May 20, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TPIC	Common Stock	Options Exercise	$1.72M	+159K	+37.25%	$10.87	584K	May 11, 2021	Direct
transaction	TPIC	Common Stock	Sale	-$7.1M	-158K	-27.01%	$45.00^*	427K	May 11, 2021	Direct	F1
transaction	TPIC	Common Stock	Sale	-$36.4K	-800	-0.19%	$45.44^*	426K	May 11, 2021	Direct	F2
transaction	TPIC	Common Stock	Options Exercise	$723K	+66.5K	+15.63%	$10.87	492K	May 12, 2021	Direct
transaction	TPIC	Common Stock	Sale	-$2.87M	-66.5K	-13.52%	$43.20^*	426K	May 12, 2021	Direct	F3

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	TPIC	Stock Option (Right to Buy)	Options Exercise	$0	-159K	-70.45%	$0.00	66.5K	May 11, 2021	Common Stock	159K	$10.87	Direct	F4
transaction	TPIC	Stock Option (Right to Buy)	Options Exercise	$0	-66.5K	-100%	$0.00^*	0	May 12, 2021	Common Stock	66.5K	$10.87	Direct	F4

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

Explanation of Responses:

Id	Content
F1	This transaction was executed in multiple trades at prices ranging from $44.42 to $45.40. The price reported above reflects the weighted average price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
F2	This transaction was executed in multiple trades at prices ranging from $45.43 to $45.45. The price reported above reflects the weighted average price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
F3	This transaction was executed in multiple trades at prices ranging from $43.00 to $44.00. The price reported above reflects the weighted average price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
F4	The option representing a right to purchase a total of 828,720 shares, vest over a four year period as follows: 25% of these securities vest on the first anniversary of the effective date of the initial public offering of the Issuer, and 6.25% vest on each quarterly anniversary thereafter, such that 100% of these securities vest on the fourth anniversary of the Issuer's offering; provided, that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.