Jeremy Whitaker - 13 Sep 2021 Form 4 Insider Report for LANTRONIX INC (LTRX)

Role: Chief Financial Officer
Signature: /s/ Jeremy Whitaker
Issuer symbol: LTRX
Transactions as of: 13 Sep 2021
Net transactions value: -$123,708
Form type: 4
Filing time: 15 Sep 2021, 16:30:30 UTC
Previous filing: 02 Sep 2021
Next filing: 23 Nov 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LTRX	Common Stock	Award	$0	+37,333	+26%	$0.000000	180,691	13 Sep 2021	Direct	F1
transaction	LTRX	Common Stock	Tax liability	$80,552	-12,909	-7.1%	$6.24	167,782	13 Sep 2021	Direct	F2
transaction	LTRX	Common Stock	Award	$0	+20,000	+12%	$0.000000	187,782	13 Sep 2021	Direct	F3
transaction	LTRX	Common Stock	Tax liability	$43,156	-6,916	-3.8%	$6.24	174,559	13 Sep 2021	Direct	F4, F5

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

Explanation of Responses:

Id	Content
F1	On October 18, 2019, the reporting person was granted Restricted Stock Units ("RSUs") with performance-based vesting requirements. One third of the target number of RSUs subject to the award are eligible to vest in each of the three years beginning in fiscal 2020 based on certain earnings per share targets, revenue targets and relative total stockholder return conditions. This transaction reflects the vesting and payment of 37,333 RSUs subject to the award on September 13, 2021 with respect to the performance conditions that were satisfied for fiscal 2021.
F2	In accordance with the terms of the applicable RSU award agreement, 12,909 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.
F3	On November 2, 2020, the reporting person was granted Restricted Stock Units ("RSUs") with performance-based vesting requirements. One third of the target number of RSUs subject to the award are eligible to vest in each of the three years beginning in fiscal 2021 based on certain earnings per share targets and revenue targets. This transaction reflects the vesting and payment of 20,000 RSUs subject to the award on September 13, 2021 with respect to the performance conditions that were satisfied for fiscal 2021.
F4	In accordance with the terms of the applicable RSU award agreement, 6,916 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.
F5	The reporting person transferred 6,307 of the net shares of Lantronix, Inc. common stock received at vesting to his ex-wife pursuant to a domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by his ex-wife.