Jeremy Whitaker - Sep 13, 2023 Form 4 Insider Report for LANTRONIX INC (LTRX)

Signature
/s/ Jeremy Whitaker
Stock symbol
LTRX
Transactions as of
Sep 13, 2023
Transactions value $
-$46,150
Form type
4
Date filed
9/14/2023, 05:00 PM
Previous filing
Jul 6, 2023
Next filing
Jul 23, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LTRX Common Stock Award $0 +25.2K +9.6% $0.00 288K Sep 13, 2023 Direct F1
transaction LTRX Common Stock Tax liability -$46.1K -8.72K -3.08% $5.29 274K Sep 13, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On July 27, 2021, 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 2022 based on certain earnings per share targets and revenue targets. This transaction reflects the vesting and payment of 25,229 RSUs subject to the award on September 13, 2023, with respect to the performance conditions that were satisfied for fiscal 2023.
F2 In accordance with the terms of the applicable RSU award agreement, 8,724 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.
F3 The reporting person transferred 5,145 of the net shares of Lantronix, Inc. common stock received at vesting to his ex-wife pursuant to a domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by his ex-wife.