Paul H. Pickle - Mar 1, 2023 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: Mar 1, 2023
Transactions value $: -$27,501
Form type: 4
Date filed: 3/2/2023, 03:30 PM
Previous filing: Dec 5, 2022
Next filing: May 17, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LTRX	Common Stock	Options Exercise	$0	+15.6K	+2.41%	$0.00	664K	Mar 1, 2023	Direct	F1
transaction	LTRX	Common Stock	Tax liability	-$27.5K	-5.4K	-0.81%	$5.09	658K	Mar 1, 2023	Direct	F2

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	-15.6K	-50%	$0.00	15.6K	Mar 1, 2023	Common Stock	15.6K		Direct	F1

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

Explanation of Responses:

Id	Content
F1	Represents inducement restricted stock units ("Inducement RSUs") granted on May 1, 2019. The shares subject to the Inducement RSUs shall vest according to the following schedule: 62,500 of the Inducement RSUs vested on June 1, 2020, and the remaining Inducement RSUs shall vest ratably each quarter thereafter for a period of 3 years. Each Inducement RSU represents the right to receive one share of the issuer's common stock.
F2	In accordance with the terms of the RSU Agreement, 5,403 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.

Content

Represents inducement restricted stock units ("Inducement RSUs") granted on May 1, 2019. The shares subject to the Inducement RSUs shall vest according to the following schedule: 62,500 of the Inducement RSUs vested on June 1, 2020, and the remaining Inducement RSUs shall vest ratably each quarter thereafter for a period of 3 years. Each Inducement RSU represents the right to receive one share of the issuer's common stock.

In accordance with the terms of the RSU Agreement, 5,403 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.