Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|
transaction | GVP | Common Stock | Tax liability | -$4.32K | -6K | -1.51% | $0.72 | 392K | Dec 31, 2022 | Direct | F1 |
transaction | GVP | Common Stock | Options Exercise | +12.5K | +3.19% | 405K | Dec 31, 2022 | Direct | F2 | ||
transaction | GVP | Common Stock | Tax liability | -$2.71K | -3.76K | -0.93% | $0.72 | 401K | Dec 31, 2022 | Direct | F3 |
Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | GVP | Performance Rights | Options Exercise | -12.5K | -7.69% | 150K | Dec 31, 2022 | Common Stock | 12.5K | Direct | F2, F3 |
Id | Content |
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F1 | Shares withheld by the Issuer for payment of applicable taxes owed due to the vesting of 19,940 restricted share units pursuant to two restricted share unit agreements between the Reporting Person and the Issuer. |
F2 | Each performance right (PR) is a contingent right to receive one share of Issuer Common Stock. PRs vest upon satisfaction of a Service Condition (SC) and a Stock Price Performance Condition (SPPC). The SC is satisfied for sixteen dates (3/31/2022, 6/30/2022, 9/30/2022, 12/31/2022, 3/31/2023, 6/30/2023, 9/30/2023, 12/31/2023, 3/31/2024, 6/30/2024, 9/30/2024, 12/31/2024, 3/31/2025, 6/30/2025, 9/30/2025, and 12/31/2025) if the Issuer has continuously employed the reporting person through that SC date, and 12,500 PRs then will be eligible to vest if the SPPC also has been met. The SPPC requires the Volume Weighted Average Price of the Issuer's Common Stock as quoted on NASDAQ to be at least $1.94 measured over a 20 consecutive trading day period. Once the SPPC is met, PRs that remain unvested shall vest upon satisfaction of each future SC. |
F3 | On June 14, 2022, the Compensation Committee of the Board of Directors of the Issuer certified that the SPPC applicable to these PRs had been satisfied. Accordingly, on December 31, 2022, the SC was satisfied with respect to 12/31/2022, resulting in the vesting of 12,500 PRs and the issuance of 12,500 shares of Common Stock, of which 3,763 shares of Common Stock were withheld by the Issuer for payment of applicable taxes owed due to the vesting of the 12,500 PRs as provided by a restricted share unit agreement between the Reporting Person and the Issuer. |