Paul H. Pickle - Sep 12, 2022 Form 4 Insider Report for LANTRONIX INC (LTRX)

Signature
/s/ Jeremy Whitaker, Attorney-in-fact for Paul H. Pickle
Stock symbol
LTRX
Transactions as of
Sep 12, 2022
Transactions value $
-$274,441
Form type
4
Date filed
9/14/2022, 08:01 PM
Previous filing
Sep 9, 2022
Next filing
Sep 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LTRX Common Stock Award $0 +96.3K +17.82% $0.00 636K Sep 12, 2022 Direct F1
transaction LTRX Common Stock Sale -$91.7K -16K -2.52% $5.71 620K Sep 12, 2022 Direct F2, F3
transaction LTRX Common Stock Sale -$92.5K -16K -2.59% $5.77 604K Sep 13, 2022 Direct F2, F4
transaction LTRX Common Stock Sale -$90.3K -16K -2.66% $5.63 588K Sep 14, 2022 Direct F2, 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. A percentage 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 and revenue targets. This transaction reflects the vesting and payment of 96,250 RSUs subject to the award on September 12, 2022 with respect to the performance conditions that were satisfied for fiscal 2022.
F2 Represents shares of Lantronix, Inc. common stock sold upon vesting to cover required tax withholding. These sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
F3 This transaction was executed in multiple trades at prices ranging from $5.63 to $5.80. The price reported reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F4 This transaction was executed in multiple trades at prices ranging from $5.63 to $6.02. The price reported reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F5 This transaction was executed in multiple trades at prices ranging from $5.57 to $5.70. The price reported reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.