Gary Mark Bendza - 19 Jul 2021 Form 4 Insider Report for TELOS CORP (TLS)

Role
EVP, CFO
Signature
/s/ Helen M. Oh, attorney-in-fact
Issuer symbol
TLS
Transactions as of
19 Jul 2021
Net transactions value
$0
Form type
4
Filing time
19 Jul 2021, 11:48:44 UTC
Next filing
23 Dec 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TLS Common Stock Award $0 +65,000 $0.000000 65,000 19 Jul 2021 Direct F1
transaction TLS Common Stock Award $0 +20,500 +32% $0.000000 85,500 19 Jul 2021 Direct F2

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 TLS Performance-Based RSUs Award $0 +20,500 $0.000000 20,500 19 Jul 2021 Common Stock 20,500 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares of common stock represent restricted share units granted pursuant to an award agreement between the reporting person and the Issuer and are subject to forfeiture. The restricted share units awarded will vest and be settled in shares of Issuer common stock in installments as follows: (1) 50% will vest on July 19, 2022, and (2) 50% will vest on July 19, 2023.
F2 These shares of common stock represent restricted share units granted pursuant to an award agreement between the reporting person and the Issuer and are subject to forfeiture. The restricted share units awarded will vest and be settled in shares of Issuer common stock in installments as follows: (1) 30% will vest on July 19, 2022, (2) 30% will vest on July 19, 2023, and (3) 40% will vest on July 19, 2024.
F3 Each performance-based RSU represents a contingent right to receive one share of Issuer common stock. The performance-based RSUs will vest and be settled in shares of Issuer common stock upon Issuer's common stock (a) trading at or above a market price of $42.50 per share as reported by the NASDAQ Global Market for 20 of 30 consecutive trading days before December 31, 2023, or (b) having a weighted average market price of $42.50 per share as reported by the NASDAQ Global Market over any 30 consecutive trading days before December 31, 2023.