BERNHARD BRUSCHA - 09 May 2022 Form 4 Insider Report for LANTRONIX INC (LTRX)

Role
Director
Signature
/s/ Jeremy Whitaker, Attorney-in-fact for Bernhard Bruscha
Issuer symbol
LTRX
Transactions as of
09 May 2022
Net transactions value
$0
Form type
4
Filing time
11 May 2022, 16:31:48 UTC
Previous filing
09 Feb 2022
Next filing
03 Jun 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LTRX Common Stock Options Exercise $0 +5,042 $0.000000 5,042 09 May 2022 By spouse F1, F2
holding LTRX Common Stock 5,415,880 09 May 2022 By TL Investment GmbH F3
holding LTRX Common Stock 106,454 09 May 2022 Direct

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 LTRX Restricted Stock Units Options Exercise $0 -5,042 -50% $0.000000 5,042 09 May 2022 Common Stock 5,042 By spouse F2, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represent shares of common stock issued upon the vesting of restricted stock units ("RSUs") granted to the Reporting Person's spouse on November 9, 2021 (the "Grant Date").
F2 The Reporting Person disclaims beneficial ownership of shares of the Issuer's common stock held by his spouse, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such reported shares for purposes of Section 16 or for any other purpose.
F3 Bernhard Bruscha serves as managing director of TL Investment GmbH, a company formed under the laws of Germany and the direct owner of the subject securities.
F4 RSUs convert into common stock on a one-for-one basis.
F5 The RSUs will vest at the rate of one half (1/2) of the shares vesting six (6) months following the Grant Date and one half (1/2) of the shares vesting on the first anniversary of the Grant Date, such that the RSUs will be fully (100%) vested after one (1) year.