John Nicols - Feb 7, 2022 Form 4 Insider Report for CODEXIS, INC. (CDXS)

Role: President and CEO, Director
Signature: /s/ Ross Taylor, as Attorney-in-Fact for John J. Nicols
Stock symbol: CDXS
Transactions as of: Feb 7, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/9/2022, 08:41 PM
Previous filing: Nov 12, 2021
Next filing: Mar 11, 2022

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	CDXS	Stock Option (Right to Buy)	Award	$0	+200K		$0.00	200K	Feb 8, 2022	Common Stock	200K	$26.16	Direct	F1
transaction	CDXS	Stock Option (Right to Buy)	Award	$0	+40K		$0.00	40K	Feb 7, 2022	Common Stock	40K	$19.39	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On February 16, 2021, the issuer granted the reporting person an option that commences vesting in respect of a number of shares of the issuer's common stock determined based on the satisfaction of certain performance criteria for the fiscal year ended December 31, 2021 with any remaining shares forfeited. On February 8, 2022, the compensation committee of the issuer's board of directors certified achievement of the performance criteria at 72.75% of the target level, which will result in the vesting of the option with respect to 100,031 shares on March 5, 2022 and 100,031 shares on March 5, 2023, in each case subject to the reporting person's continued service to the issuer through such vesting date.
F2	Option vests with respect to 25% of the shares subject thereto on February 7, 2023, with 1/48th of the shares vesting monthly thereafter, such that the option will be fully vested and exercisable on February 7, 2026.

Content

On February 16, 2021, the issuer granted the reporting person an option that commences vesting in respect of a number of shares of the issuer's common stock determined based on the satisfaction of certain performance criteria for the fiscal year ended December 31, 2021 with any remaining shares forfeited. On February 8, 2022, the compensation committee of the issuer's board of directors certified achievement of the performance criteria at 72.75% of the target level, which will result in the vesting of the option with respect to 100,031 shares on March 5, 2022 and 100,031 shares on March 5, 2023, in each case subject to the reporting person's continued service to the issuer through such vesting date.

Option vests with respect to 25% of the shares subject thereto on February 7, 2023, with 1/48th of the shares vesting monthly thereafter, such that the option will be fully vested and exercisable on February 7, 2026.