Andrew Moir - May 24, 2023 Form 4 Insider Report for TPI COMPOSITES, INC (TPIC)

Role
Director
Signature
/s/ Steven G. Fishbach, Attorney-in-Fact
Stock symbol
TPIC
Transactions as of
May 24, 2023
Transactions value $
$0
Form type
4
Date filed
5/26/2023, 05:08 PM
Previous filing
Jul 21, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TPIC Common Stock Options Exercise $0 +9.36K $0.00 9.36K May 24, 2023 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 -9.36K -100% $0.00* 0 May 24, 2023 Common Stock 9.36K Direct F1, F2, F3
transaction TPIC Restricted Stock Units Award $0 +10K $0.00 10K May 24, 2023 Common Stock 10K Direct F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person is contractually obligated to turn over any proceeds from the sale of these shares to one or more entities affiliated with Oaktree Capital Management's Power Opportunities Investment Strategy. The Reporting Person disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of is pecuniary interest therein, if any.
F2 The restricted stock units ("RSUs") vested on May 24, 2023, the date of the Issuer's annual meeting of stockholders, pursuant to the Issuer's Non-Employee Director Compensation Policy.
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.
F4 The RSUs shall vest on the earlier of (i) the one-year anniversary of the grant date or (ii) the next annual meeting of stockholders of the Issuer, subject to the Reporting Person's continued service as a director pursuant to the Issuer's Non-Employee Director Compensation Policy.

Remarks:

The reporting person is a Senior Vice President of Oaktree Capital Management's Power Opportunities Investment Strategy ("Oaktree"), a registered investment adviser under the Investment Advisers Act of 1940, as amended. The shares reported herein do not include warrants exercisable for common stock of the Issuer beneficially owned by Opps TPIC Holdings, LLC ("Opps"), Oaktree Power Opportunities Fund V (Delaware) Holdings, L.P. ("Power V") and Oaktree Phoenix Investment Fund, L.P. ("Phoenix"), affiliates of Oaktree. The reporting person hereby disclaims beneficial ownership of any such shares beneficially owned by Opps, Power V and Phoenix, except to the extent of any pecuniary interest therein. No securities are beneficially owned.