Razvan Radulescu - Dec 11, 2022 Form 4 Insider Report for Blue Bird Corp (BLBD)

Role: Chief Financial Officer
Signature: /s/ Matthew Meziere as attorney-in-fact
Stock symbol: BLBD
Transactions as of: Dec 11, 2022
Transactions value $: $229,928
Form type: 4
Date filed: 12/13/2022, 01:48 PM
Previous filing: Jul 6, 2022
Next filing: Jun 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BLBD	Common Stock, par value $0.0001	Tax liability	-$23.2K	-1.82K	-4.25%	$12.76	41K	Dec 11, 2022	Direct	F1
transaction	BLBD	Common Stock, par value $0.0001	Award	$253K	+20.5K	+50.05%	$12.35	61.4K	Dec 12, 2022	Direct	F2, 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	BLBD	Common Stock	Award	$0	+2.16K		$0.00	2.16K	Dec 11, 2022	Common Stock	2.16K	$20.00	Direct	F4
transaction	BLBD	Common Stock	Award	$0	+10.5K		$0.00	10.5K	Dec 12, 2022	Common Stock	10.5K	$12.35	Direct	F5

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

Explanation of Responses:

Id	Content
F1	This transaction represents shares withheld to satisfy tax withholding obligations related to restricted stock units ("RSUs") that vested on 12/11/2022.
F2	The award represents a grant of RSUs. Each RSU represents a contingent right to receive one share of the common stock of Blue Bird Corporation.
F3	The RSUs vest 1/3 on each of the dates December 12, 2023, December 12, 2024, and December 12, 2025 subject to downward adjustments consistent with each respective fiscal year's actual percentage payout of the Management Performance bonus award. Any downward adjustments shall not reduce the number of RSU's that vest below 50% of the amount(s) granted.
F4	On December 11, 2021, the reporting person was granted an option to purchase shares of common stock, which vest over a three year period in equal installments based on satisfaction of certain performance criteria for each of the applicable fiscal years. Although the performance criteria for fiscal 2022 were not met, the Compensation Committee vested the number of options reported under its discretionary authority.
F5	Award represents one option grant that vests over a three year period in equal installments (December 12, 2023, December 12, 2024, and December 12, 2025).