Paul H. Pickle - 01 Jun 2023 Form 4 Insider Report for LANTRONIX INC (LTRX)

Role: President & CEO, Director
Signature: /s/ Jeremy Whitaker, Attorney-in-fact for Paul H. Pickle
Issuer symbol: LTRX
Transactions as of: 01 Jun 2023
Net transactions value: -$23,557
Form type: 4
Filing time: 05 Jun 2023, 16:31:22 UTC
Previous filing: 17 May 2023
Next filing: 30 Jun 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LTRX	Common Stock	Options Exercise	$0	+15,625	+2.4%	$0.000000	678,714	01 Jun 2023	Direct	F1
transaction	LTRX	Common Stock	Tax liability	$23,557	-5,403	-0.8%	$4.36	673,311	01 Jun 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	-15,625	-100%	$0.000000^*	0	01 Jun 2023	Common Stock	15,625		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.