COHEN PETER A 4
4 · Andover National Corp · Filed Oct 5, 2021
Insider Transaction Report
Form 4
COHEN PETER A
10% Owner
Transactions
- Disposition to Issuer
Class A Common Stock
2021-10-05−41,667→ 319,244 total - Award
Class A Common Stock
2021-10-05+52,085→ 371,329 total
Footnotes (2)
- [F1]On October 5, 2021, the Issuer cancelled 41,667 unvested restricted stock units ("RSUs") previously granted under the Andover National Corporation 2019 Equity Incentive Plan (the "Plan") in exchange for 52,085 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 the continued service with the Issuer through the applicable vesting date. For the time-based vesting component, beginning on October 29, 2021, 31,251 PSUs vest in (10) ten equal quarterly installments, and beginning on November 14, 2021, 20,834 PSUs vest in (5) five equal quarterly installments.
- [F2]In addition, through The Peter A. Cohen Revocable Trust, Mr. Cohen beneficially owns 40,599 shares of Class B Common Stock.