Maultsby Randy 4
4 · TIPTREE INC. · Filed Nov 22, 2021
Insider Transaction Report
Form 4
TIPTREE INC.TIPT
Maultsby Randy
DirectorPresident
Transactions
- Tax Payment
Common Stock
2021-11-22$15.12/sh−17,750$268,380→ 79,840 total - Exercise/Conversion
Performance Restricted Stock Units
2021-11-22−33,333→ 466,667 total→ Common Stock (33,333 underlying) - Exercise/Conversion
Common Stock
2021-11-22+33,333→ 97,590 total
Footnotes (3)
- [F1]The acquisition of the common stock resulted from the vesting of an equal number of performance restricted stock units ("PRSUs") granted on August 4, 2021. Each PRSU represents a contingent right to receive one share of Tiptree Inc. ("Tiptree") common stock.
- [F2]Shares withheld to satisfy the Reporting Person's withholding tax liability upon vesting of PRSUs issued to the Reporting Person on August 4, 2021.
- [F3]The PRSUs will vest upon Tiptree achieving each of five Tiptree share price target milestones, based on the average of the thirty (30) trading day closing stock price, ranging from $15 to $60 (adjusted for dividends paid) prior to the tenth anniversary of the date of grant, subject to the Reporting Person's continued employment with Tiptree. Any unvested PRSUs shall expire on August 4, 2031.