Lance Morell Marram - Jan 1, 2022 Form 3 Insider Report for TPI COMPOSITES, INC (TPIC)

Role
Chief Commercial Officer
Signature
/s/ Steven G. Fishbach, Attorney-in-Fact
Stock symbol
TPIC
Transactions as of
Jan 1, 2022
Transactions value $
$0
Form type
3
Date filed
1/4/2022, 03:51 PM
Next filing
Jan 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding TPIC No securities are beneficially owned 0 Jan 1, 2022 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
holding TPIC Stock Options (Right to buy) Jan 1, 2022 Common Stock 3.95K $18.99 Direct F1
holding TPIC Stock Options (Right to buy) Jan 1, 2022 Common Stock 56.8K $18.99 Direct F1
holding TPIC Restricted Stock Units Jan 1, 2022 Common Stock 2.22K $0.00 Direct F2, F3
holding TPIC Restricted Stock Units Jan 1, 2022 Common Stock 3.02K $0.00 Direct F2, F4
holding TPIC Restricted Stock Units Jan 1, 2022 Common Stock 1.85K $0.00 Direct F2, F5
holding TPIC Restricted Stock Units Jan 1, 2022 Common Stock 1.9K $0.00 Direct F2, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 25% of the securities underlying the original stock option grant vested on October 16, 2020 and 6.25% vest on each quarterly anniversary thereafter, such that 100% of these securities vest on the fourth anniversary of this grant; provided the Reporting Person continues to provide service to the Issuer through each applicable vesting date.
F2 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the common stock. All unvested RSUs will automatically expire upon Reporting Person's termination of service from Issuer.
F3 100% of the RSUs will vest on March 11, 2023; provided, that the Reporting Person continues to provide services to the Issuer through the vesting date.
F4 The RSUs will vest in three tranches: 1/3 will vest upon the Issuer's common stock achieving a market price of $30, 1/3 will vest upon the Issuer's common stock achieving a market price of $38 and 1/3 will vest upon the Issuer's common stock achieving a market price of $43, in each case during the performance period starting on March 11, 2020 and ending on December 31, 2022; provided, that the Reporting Person continues to provide services to the Issuer through the vesting period.
F5 100% of the RSUs will vest on March 10, 2024; provided, that the Reporting Person continues to provide services to the Issuer through the vesting date.
F6 The RSUs will vest in three tranches: 1/3 will vest upon the Issuer's common stock achieving a market price of $66, 1/3 will vest upon the Issuer's common stock achieving a market price of $72 and 1/3 will vest upon the Issuer's common stock achieving a market price of $78, in each case during the performance period starting on March 10, 2021 and ending on December 31, 2023; provided, that the Reporting Person continues to provide services to the Issuer through the vesting period.

Remarks:

No securities are beneficially owned.