Eric Bass - 01 Feb 2023 Form 4 Insider Report for LANTRONIX INC (LTRX)

Role
VP of Engineering
Signature
/s/ Jeremy Whitaker, Attorney-in-fact for Eric Bass
Issuer symbol
LTRX
Transactions as of
01 Feb 2023
Net transactions value
$0
Form type
4
Filing time
08 Feb 2023, 15:32:24 UTC
Next filing
13 Dec 2023
SEC
View on sec.gov

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 Stock Options Award $0 +100,000 $0.000000 100,000 01 Feb 2023 Common Stock 100,000 $4.95 Direct F1
transaction LTRX Restricted Stock Units Award $0 +59,267 $0.000000 59,267 01 Feb 2023 Common Stock 59,267 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents inducement stock options ("Inducement Options") granted on February 1, 2023. The Inducement Options shall vest according to the following schedule: 25,000 of the options shall vest one year from date of grant, the remaining 75,000 options will vest 1/36th per month over the following 36 months so that 100% of options will be vested at the four year anniversary of the date of grant.
F2 Represents inducement restricted stock units ("Inducement RSUs") granted on February 1, 2023. The shares subject to the Inducement RSUs shall vest according to the following schedule: 14,817 of the Inducement RSUs shall vest on March 1, 2024, and the remaining Inducement RSUs shall vest 1/12th each quarter thereafter for a period of 3 years.