William E. Siwek - Dec 31, 2022 Form 4 Insider Report for TPI COMPOSITES, INC (TPIC)

Role
President and CEO
Signature
/s/ Steven G. Fishbach, Attorney-in-Fact
Stock symbol
TPIC
Transactions as of
Dec 31, 2022
Transactions value $
-$204,412
Form type
4
Date filed
1/4/2023, 03:12 PM
Previous filing
Sep 20, 2022
Next filing
Mar 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TPIC Common Stock Options Exercise $0 +47.9K +37.44% $0.00 176K Dec 31, 2022 Direct
transaction TPIC Common Stock Tax liability -$204K -20.2K -11.46% $10.14 156K Dec 31, 2022 Direct F1

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 Restricted Stock Units Options Exercise $0 -47.9K -100% $0.00* 0 Dec 31, 2022 Common Stock 47.9K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the shares required to satisfy tax withholding obligations in connection with the vesting of 47,938 performance based restricted stock units ("Performance Based RSUs").
F2 The Performance Based RSUs vested in full on December 31, 2022. The reporting person was eligible to receive 100% of the Performance Based RSUs if (i) the Issuer's 30 day, volume weighted average stock price exceeded the following stock price hurdles: $30, $38 and $43; and (ii) the reporting person provided continuous service to the Issuer, during the applicable performance period of the underlying award (March 11, 2020 to December 31, 2022).
F3 Each 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.