Selwyn Joffe - Jun 17, 2020 Form 4 Insider Report for MOTORCAR PARTS AMERICA INC (MPAA)

Role
President, CEO & Chairman, Director
Signature
/s/ Selwyn Joffe
Stock symbol
MPAA
Transactions as of
Jun 17, 2020
Transactions value $
-$189,966
Form type
4
Date filed
6/21/2021, 09:31 PM
Next filing
Jun 22, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MPAA Common Stock Options Exercise $0 +15.6K +7.07% $0.00 237K Jun 17, 2021 Direct
transaction MPAA Common Stock Tax liability -$190K -8.03K -3.39% $23.66 229K Jun 17, 2021 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 MPAA Stock Option Options Exercise $0 +33.8K +50% $0.00 101K Jun 17, 2020 Common Stock 33.8K $15.12 Direct F1
transaction MPAA Restricted Stock Units Options Exercise $0 -15.6K -19.15% $0.00 66K Jun 17, 2021 Common Stock 15.6K $0.00 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Stock Options granted on 6/17/20 have a performance requirement: in order to vest each year, the current price of a share of common stock of MPAA must be at least 8%, 12% and 16% higher than the grant price of $15.12, in order to vest at the first, second and third year after grant, in other words, it must be at least $16.33 in the first year, $16.93 in the second year and $17.54 in the third year, or the vested options will be forfeited for that year. By this report, MPAA reports that the stock options vested for the first year as the performance measure was met.
F2 Vesting 1/3 each year for 3 years from grant date. beginning on 17-Jun-2020