Jon D. Lammers - Mar 1, 2023 Form 4 Insider Report for nVent Electric plc (NVT)

Role
EVP, Gen. Counsel & Secretary
Signature
/s/ John K. Wilson, Attorney-in-Fact for Jon D. Lammers
Stock symbol
NVT
Transactions as of
Mar 1, 2023
Transactions value $
-$145,188
Form type
4
Date filed
3/3/2023, 05:31 PM
Previous filing
Mar 1, 2023
Next filing
Mar 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NVT Ordinary Shares Options Exercise $0 +6.9K +16.67% $0.00 48.3K Mar 1, 2023 Direct F1
transaction NVT Ordinary Shares Tax liability -$145K -3.15K -6.52% $46.15 45.1K Mar 1, 2023 Direct F2
transaction NVT Ordinary Shares - Restricted Stock Units Award $0 +4.88K +46.34% $0.00 15.4K Mar 1, 2023 Direct F3

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 NVT Employee Stock Option (right to buy) Award $0 +13.6K $0.00 13.6K Mar 1, 2023 Ordinary Shares 13.6K $46.15 Direct F4, F5
transaction NVT Performance Share Units Options Exercise $0 -6.9K -50% $0.00 6.9K Mar 1, 2023 Ordinary Shares 6.9K Direct F1, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the vesting of performance share units in shares earned pursuant to the satisfaction of conditions set forth in footnote 6.
F2 Shares surrendered to pay taxes applicable to vesting of performance share units.
F3 Restricted stock units granted pursuant to the nVent Electric plc 2018 Omnibus Incentive Plan. One-third of the restricted stock units vest on the first, second and third anniversary of March 5, 2023. Each restricted stock unit represents a right to receive one nVent Electric plc share upon vesting.
F4 Employee stock option granted under the nVent 2018 Omnibus Incentive Plan.
F5 One-third of the stock options become exercisable on the first, second and third anniversary of March 5, 2023.
F6 Performance share units vest during the March 1, 2021-March 1, 2024 performance period one-third if the closing price for nVent shares exceeds $26.25 for 20 consecutive days and the reporting person is employed for 1 year from the grant date, one-third if the closing price for nVent shares exceeds $28.35 for 20 consecutive days and the reporting person is employed for 2 years from the grant date, and one-third if the closing price for nVent shares exceeds $30.62 for 20 consecutive days and the reporting person is employed for 3 years from the grant date. Each of the foregoing nVent share price conditions has been satisfied. Each performance share unit represents a right to receive one nVent Electric plc share upon vesting.