Kenneth J. Nicholson - Aug 22, 2023 Form 4 Insider Report for FTAI Infrastructure Inc. (FIP)

Role: CEO and President
Signature: /s/ BoHee Yoon, as Attorney-in-fact
Stock symbol: FIP
Transactions as of: Aug 22, 2023
Transactions value $: -$76
Form type: 4
Date filed: 8/24/2023, 07:07 AM
Previous filing: Mar 10, 2023
Next filing: Feb 28, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FIP	Common Stock, par value $0.01 per share	Options Exercise	$3.19K	+1.73K	+0.42%	$1.85	417K	Aug 22, 2023	Direct
transaction	FIP	Common Stock, par value $0.01 per share	Options Exercise	$24K	+11.3K	+2.7%	$2.13	428K	Aug 22, 2023	Direct
transaction	FIP	Common Stock, par value $0.01 per share	Tax liability	-$27.3K	-8.1K	-1.89%	$3.37	420K	Aug 22, 2023	Direct	F1

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	FIP	Stock Option (right to buy)	Options Exercise	$0	-1.73K	-100%	$0.00^*	0	Aug 22, 2023	Common Stock, par value $0.01 per share	1.73K	$1.85	Direct	F2, F3, F4
transaction	FIP	Stock Option (right to buy)	Options Exercise	$0	-11.3K	-100%	$0.00^*	0	Aug 22, 2023	Common Stock, par value $0.01 per share	11.3K	$2.13	Direct	F2, F3, F4

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

Explanation of Responses:

Id	Content
F1	No shares were sold. Reflects deemed surrender of shares to satisfy the exercise price due upon exercise of the associated options.
F2	Tandem awards correspond on a one-to-one basis with options granted to FIG LLC, the Company's manager (or an affiliate of the Company's manager), such that exercise by an employee of the tandem award would result in the corresponding option held by the manager being cancelled. Upon the grant of options to the manager (or an affiliate), such options are fully vested and become exercisable over a 30-month period (the "Total Exercisability Period") in monthly installments beginning on the first of each month following the month in which the options were granted.
F3	When tandem awards are granted with respect to manager options, the manager options become exercisable in monthly installments over a portion of the Total Exercisability Period equal to the product of (i) the ratio of tandem awards to the total number of related options (including options underlying such tandem awards) multiplied by (ii) 30 (such period, the "Manager Exercisability Period"). Following the Manager Exercisability Period, the tandem awards vest in monthly installments on the first of each month over the remainder of the Total Exercisability Period and become exercisable only at the end of the Total Exercisability Period.
F4	Represents the expiration date of the related manager option. In general, the expiration date of the tandem award occurs prior to the expiration date of the underlying option.