Dean Ross Taylor Jr. - 07 Feb 2022 Form 4 Insider Report for CODEXIS, INC. (CDXS)

Role
SVP, Chief Financial Officer
Signature
/s/ Ross Taylor
Issuer symbol
CDXS
Transactions as of
07 Feb 2022
Net transactions value
$0
Form type
4
Filing time
09 Feb 2022, 20:42:08 UTC
Next filing
08 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CDXS Common Stock Award $0 +9,000 +26% $0.000000 44,205 07 Feb 2022 Direct F1
transaction CDXS Common Stock Award $0 +11,640 +49% $0.000000 35,205 08 Feb 2022 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 CDXS Stock Option (Right to Buy) Award $0 +16,006 $0.000000 16,006 08 Feb 2022 Common Stock 16,006 $26.16 Direct F3
transaction CDXS Stock Option (Right to Buy) Award $0 +13,000 $0.000000 13,000 07 Feb 2022 Common Stock 13,000 $19.39 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted Stock Units ("RSUs") vest 1/3 annually from February 7, 2022 such that the RSUs will be fully vested on February 7, 2025. Each RSU represents a contingent right to receive one share of Codexis common stock.
F2 Represent shares of common stock issuable pursuant to performance stock units for which achievement has been certified by the Issuer's compensation committee. Shares will be issued in two equal installments on each of March 5, 2022 and March 5, 2023, subject to continued employment through such date.
F3 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 8,003 shares on March 5, 2022 and 8,003 shares on March 5, 2023, in each case subject to the reporting person's continued service to the issuer through such vesting date.
F4 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.