Thomas Ermi - Dec 29, 2022 Form 4 Insider Report for AgroFresh Solutions, Inc. (AGFS)

Signature
/s/ Jason Simon, Attorney-in-Fact
Stock symbol
AGFS
Transactions as of
Dec 29, 2022
Transactions value $
-$56,015
Form type
4
Date filed
1/3/2023, 07:45 PM
Previous filing
Apr 18, 2022
Next filing
Mar 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AGFS Common Stock Award +98.7K +335.65% 128K Dec 29, 2022 Direct F1, F2
transaction AGFS Common Stock Tax liability -$20.9K -7.06K -3.7% $2.96 184K Dec 29, 2022 Direct F1, F3
transaction AGFS Common Stock Tax liability -$18.9K -6.37K -9.16% $2.96 63.2K Dec 29, 2022 Direct F1, F4
transaction AGFS Common Stock Tax liability -$16.3K -5.5K -10.09% $2.96 49K Dec 29, 2022 Direct F1, F5
holding AGFS Common Stock 13.7K Dec 29, 2022 Direct F6
holding AGFS Common Stock 12.3K Dec 29, 2022 Direct F7
holding AGFS Common Stock 5.49K Dec 29, 2022 Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 29, 2022, in order to mitigate or eliminate the amount of excise tax that might be payable by the Reporting Person in certain circumstances pursuant to Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended, the Board of Directors of the Issuer approved accelerated vesting of the Reporting Person's equity awards that were otherwise scheduled to vest in March and April of 2023, including service-based restricted stock units ("RSUs") and performance-based stock units ("PSUs"), with PSUs accelerating vesting at a performance level equal to 128.1% of target and with all such RSU and PSU accelerations occurring on December 29, 2022.
F2 RSUs convert into common stock on a one-for-one basis upon vesting.
F3 The Reporting Person was granted 77,034 restricted shares in 2020, vesting in three equal annual installments beginning on April 14, 2021. The remaining unvested shares vested in full effective December 29, 2022, and 7,057 shares were forfeited effective December 29, 2022 in satisfaction of taxes payable upon vesting, resulting in 18,621 shares being acquired effective December 29, 2022.
F4 The Reporting Person was granted 69,556 restricted shares in 2022, originally vesting in three equal annual installments beginning on April 1, 2023. 6,372 shares were forfeited effective December 29, 2022 in satisfaction of taxes payable upon accelerated vesting of the installment originally scheduled to vest on April 1, 2023. Shares reported in this row are in addition to shares reported in rows 1 and 2, which are not subject to restrictions.
F5 The Reporting Person was granted 59,978 restricted shares in 2021, originally vesting in three equal annual installments beginning on March 31, 2022. 5,495 shares were forfeited effective December 29, 2022 in satisfaction of taxes payable upon accelerated vesting of the installment originally scheduled to vest on March 31, 2023. Shares reported in this row are in addition to shares reported in rows 1 and 2, which are not subject to restrictions.
F6 The Reporting Person was granted 19,100 restricted shares in 2019, vesting in three equal annual installments beginning on March 29, 2020. Certain of these shares were previously forfeited in satisfaction of taxes payable upon vesting. Shares reported in this row are in addition to shares reported in rows 1 and 2, which are not subject to restrictions.
F7 The Reporting Person was granted 15,000 restricted shares in 2018, vesting in three equal annual installments beginning on April 23, 2019. Certain of these shares were previously forfeited in satisfaction of taxes payable upon vesting. Shares reported in this row are in addition to shares reported in rows 1 and 2, which are not subject to restrictions.
F8 The Reporting Person was granted 6,700 restricted shares in 2018, vesting in three equal annual installments beginning on March 29, 2019. Certain of these shares were previously forfeited in satisfaction of taxes payable upon vesting. Shares reported in this row are in addition to shares reported in rows 1 and 2, which are not subject to restrictions.