Hanson John T 4
4 · Turtle Beach Corp · Filed Mar 20, 2024
Insider Transaction Report
Form 4
Hanson John T
CFO, Treasurer and Secretary
Transactions
- Award
Performance Stock Units
2024-03-18+4,000→ 4,000 total→ Common stock (4,000 underlying) - Award
Performance Stock Units
2024-03-18+5,333→ 5,333 total→ Common stock (5,333 underlying) - Award
Performance Stock Units
2024-03-18+6,602→ 6,602 total→ Common stock (6,602 underlying)
Holdings
- 45,804
Common Stock
- 6,875
Restricted Stock Units
→ Common stock (6,875 underlying) - 18,000
Restricted Stock Units
→ Common stock (6,000 underlying) - 2,696
Stock Option (Right to Buy)
Exercise: $2.04Exp: 2027-11-13→ Common stock (2,696 underlying) - 9,000
Restricted Stock Units
→ Common stock (4,500 underlying) - 31,500
Restricted Stock Units
→ Common stock (31,500 underlying) - 29,391
Stock Option (Right to Buy)
Exercise: $3.12Exp: 2028-04-11→ Common stock (29,391 underlying) - 14,167
Stock Option (Right to Buy)
Exercise: $12.10Exp: 2029-04-01→ Common stock (14,167 underlying) - 33,230
Stock Option (Right to Buy)
Exercise: $5.95Exp: 2030-04-01→ Common stock (33,230 underlying)
Footnotes (11)
- [F1]The securities are performance stock units representing a contingent right to receive one share of Turtle Beach Corporation common stock.
- [F10]All options were exercisable as of the transaction date.
- [F11]These options are scheduled to vest in equal monthly installments until April 1, 2024.
- [F2]Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2021 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024, subject to continued employment through such date.
- [F3]Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2022 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024, subject to continued employment through such date.
- [F4]Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2023 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024, subject to continued employment through such date.
- [F5]The securities are restricted stock units representing a contingent right to receive one share of Turtle Beach Corporation common stock, or cash with a value equal to the fair market value of the underlying common stock, or a combination thereof.
- [F6]These restricted stock units vest in equal annual installments until April 1, 2024.
- [F7]These restricted stock units vest in equal annual installments until April 1, 2025.
- [F8]These restricted stock units vest in equal annual installments until April 1, 2026.
- [F9]One-quarter of these restricted stock units will vest on April 1, 2024, with the remainder of the restricted stock units vesting in equal annual installments until April 1, 2027.