Linda Perneau - Jun 14, 2021 Form 4 Insider Report for VOLT INFORMATION SCIENCES, INC. (VOLT)

Role
President and CEO, Director
Signature
/s/ Nancy T. Avedissian, Attorney-in-Fact
Stock symbol
VOLT
Transactions as of
Jun 14, 2021
Transactions value $
-$118,349
Form type
4
Date filed
6/16/2021, 12:25 PM
Next filing
Jun 16, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VOLT Common Stock Options Exercise +28.9K +13.15% 248K Jun 14, 2021 Direct F1
transaction VOLT Common Stock Options Exercise +49.9K +20.1% 298K Jun 14, 2021 Direct F2
transaction VOLT Common Stock Award +40.9K +13.72% 339K Jun 14, 2021 Direct F3
transaction VOLT Common Stock Tax liability -$118K -29.2K -8.59% $4.06 310K Jun 14, 2021 Direct F4

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 VOLT Restricted Stock Unit Options Exercise $0 -28.9K -100% $0.00* 0 Jun 14, 2021 Common Stock 28.9K Direct F1, F5
transaction VOLT Restricted Stock Unit Options Exercise $0 -49.9K -50% $0.00 49.9K Jun 14, 2021 Common Stock 49.9K Direct F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 14, 2018, the reporting person was granted 86,563 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the registrant's common stock or the cash value thereof, subject to a cap on the value received. The restricted stock units vest ratably on each of the first three anniversaries of the grant date.
F2 On June 14, 2019, the reporting person was granted 149,770 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the registrant's common stock. The restricted stock units vest ratably on each of the first three anniversaries of the grant date.
F3 On June 14, 2019, the reporting person was granted 149,769 performance stock units. The performance units are eligible to vest 1/3 in each of the three years following the grant date based on the Company's achievement of certain financial performance goals measured over the applicable fiscal year performance period. At the maximum level of achievement, up to 150% of the units granted are eligible to vest. Each performance stock unit represents a contingent right to receive one share of the registrant's common stock.
F4 Represents the number of shares of common stock withheld by the issuer to satisfy the tax withholding obligations of the reporting person in connection with the vesting of 78,778 restricted stock units reported in Table II below and 40,935 performance stock units reported in Table I.
F5 Restricted stock units convert into common stock on a one-for-one basis.