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

Role
President, CEO & Chairman, Director
Signature
/s/ Selwyn Joffe
Issuer symbol
MPAA
Transactions as of
17 Jun 2020
Net transactions value
-$189,966
Form type
4
Filing time
21 Jun 2021, 21:31:15 UTC
Next filing
22 Jun 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MPAA Common Stock Options Exercise $0 +15,635 +7.1% $0.000000 236,896 17 Jun 2021 Direct
transaction MPAA Common Stock Tax liability $189,966 -8,029 -3.4% $23.66 228,867 17 Jun 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 +33,791 +50% $0.000000 101,374 17 Jun 2020 Common Stock 33,791 $15.12 Direct F1
transaction MPAA Restricted Stock Units Options Exercise $0 -15,635 -19% $0.000000 66,023 17 Jun 2021 Common Stock 15,635 $0.000000 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