Khanna Ravi 4
4 · GSE SYSTEMS INC · Filed Apr 7, 2023
Insider Transaction Report
Form 4
Khanna Ravi
Senior Vice President
Transactions
- Award
Performance Rights
2023-04-05+28,426→ 28,426 totalExp: 2027-01-01→ Common Stock (28,426 underlying)
Footnotes (1)
- [F1]Each performance right (PR) is a contingent right to receive one share of Issuer Common Stock. PRs vest upon satisfaction of both a Service Condition (SC) and a Stock Price Performance Condition (SPPC). The SC is satisfied for sixteen dates (3/31/23, 6/30/23, 9/30/23, 12/31/23, 3/31/24, 6/30/24, 9/30/24, 12/31/24, 3/31/25, 6/30/25, 9/30/25, 12/31/25, 3/31/26, 6/30/26, 9/30/26, and 12/31/26) if the Issuer has continuously employed the reporting person through that SC date. 1,776 PRs will be eligible to vest on the first 15 SC dates if the SPPC also has been met, and 1,786 PRs will be eligible to vest on the final SC date if the SPPC also has been met. The SPPC requires the Volume Weighted Average Price of the Issuer's Common Stock as quoted on NASDAQ to be at least $1.50 measured over a 5 consecutive trading day period. If the SPPC is not met, then PRs eligible to vest due to satisfaction of a SC shall aggregate and vest upon any later satisfaction of the SPPC.