Paul H. Pickle - Sep 13, 2021 Form 4 Insider Report for LANTRONIX INC (LTRX)

Role
President & CEO, Director
Signature
/s/ Jeremy Whitaker, Attorney-in-fact for Paul H. Pickle
Stock symbol
LTRX
Transactions as of
Sep 13, 2021
Transactions value $
-$662,457
Form type
4
Date filed
9/15/2021, 04:30 PM
Previous filing
Sep 2, 2021
Next filing
Sep 20, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LTRX Common Stock Award $0 +244K +101.07% $0.00 485K Sep 13, 2021 Direct F1
transaction LTRX Common Stock Tax liability -$605K -96.9K -19.97% $6.24 389K Sep 13, 2021 Direct F2
transaction LTRX Common Stock Award $0 +26.7K +6.86% $0.00 415K Sep 13, 2021 Direct F3
transaction LTRX Common Stock Tax liability -$57.5K -9.22K -2.22% $6.24 406K Sep 13, 2021 Direct F4
* 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 244,012 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, 96,942 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 26,666 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, 9,221 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.