Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | IAS | Market Stock Units | Award | $0 | +473K | $0.00 | 473K | Apr 3, 2023 | Common Stock, $0.001 par value | 473K | Direct | F1, F2 |
Id | Content |
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F1 | The number of market stock units reported represents the maximum possible number of shares that are eligible for vesting, which is 225% of the number of shares that would be earned at target. The minimum payout factor that must be achieved to earn any payout is 60%. The actual number of shares that will vest on each vesting date will be determined by comparing the price of common stock on the applicable vesting date to the price of common stock on April 3, 2023 (i.e number of vested shares is equal to (i) the number of shares at target payout multiplied by (ii)(a) the average price of common stock for the 10 trading days immediately proceeding the applicable vesting date divided by (b) the closing stock price on April 3, 2023). |
F2 | The market stock units vest 25% on April 3, 2024 and in equal installments every three months thereafter over a three year period, subject to continued employment. |