James A. Clark - Aug 19, 2021 Form 4 Insider Report for LSI INDUSTRIES INC (LYTS)

Role
CEO and President, Director
Signature
/s/ F. Mark Reuter as Attorney-in-Fact for James A. Clark
Stock symbol
LYTS
Transactions as of
Aug 19, 2021
Transactions value $
-$30,153
Form type
4
Date filed
8/23/2021, 04:59 PM
Previous filing
Aug 13, 2021
Next filing
Oct 8, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LYTS Common Shares Tax liability -$30.2K -3.85K -13.19% $7.83 25.3K Aug 19, 2021 Direct
holding LYTS Common Shares 42K Aug 19, 2021 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
holding LYTS Option to Buy 500K Aug 19, 2021 Common Shares 500K $4.40 Direct F2, F3
holding LYTS Option to Buy 76.3K Aug 19, 2021 Common Shares 76.3K $6.80 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Common shares held in the LSI Industries Inc. Non-Qualified Deferral Compensation Plan.
F2 These holdings have been previously reported on Form 4.
F3 Non-qualified stock option granted pursuant to the Employment Agreement dated October 15, 2018 between the Reporting Person and the Issuer as an inducement award outside the Issuer's 2012 Stock Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4). The option vests as follows: (i) 250,000 shares on November 1, 2021; (ii) 125,000 shares if the closing price per share of the Issuer's common stock is at least $9.50 per share prior to the expiration of the option; and (iii) 125.000 shares if the closing price per share of the Issuer's common stock is at least $15.00 per share prior to the expiration of the option. The vesting of the option as to each tranche of shares is subject to the Reporting Person's continued employment with the Issuer as President and Chief Executive Officer on November 1, 2021.
F4 The options vest ratably over a three year time period.