BLUMENTHAL GEORGE S 4
4 · Andover National Corp · Filed Oct 5, 2021
Insider Transaction Report
Form 4
BLUMENTHAL GEORGE S
10% Owner
Transactions
- Disposition to Issuer
Class A Common Stock
2021-10-05−12,500→ 134,387 total - Award
Class A Common Stock
2021-10-05+15,626→ 150,013 total
Footnotes (1)
- [F1]On October 5, 2021, the Issuer cancelled 12,500 unvested restricted stock units ("RSUs") previously granted under the Andover National Corporation 2019 Equity Incentive Plan (the "Plan") in exchange for 15,626 performance RSUs ("PSUs"). Each PSU represents a contingent right to receive one share of the Issuer's Class A common stock. In addition to time-based vesting, the PSUs are also subject to performance vesting that is only satisfied upon the occurrence of a "Liquidity Event" (as defined in the PSU Agreement to include the listing of a class of the Issuer's equity security on a national securities exchange or the occurrence of a Change of Control (as defined in the Plan)) and continued service with the Issuer through the applicable vesting date. For the time-based vesting component, beginning on October 29, 2021, 5,209 PSUs vest in (10) ten equal quarterly installments, and beginning on November 14, 2021, 10,417 PSUs vest in (5) five equal quarterly installments.