Wang Jinbo 4
4 · Red Violet, Inc. · Filed Sep 10, 2019
Insider Transaction Report
Form 4
Red Violet, Inc.RDVT
Wang Jinbo
Chief Accounting OfficerOther
Transactions
- Award
Common Stock
2019-08-28+20,000→ 20,000 total
Holdings
- 26,658
Common Stock
- 23,333
Common Stock
Footnotes (3)
- [F1]On August 28, 2019, a performance grant of Restricted Stock Units (RSUs), which is convertible into common stock of the issuer on a one-for-one basis, was granted to the reporting person (the "Performance Grant"), subject to accelerated vesting under certain conditions.
- [F2]The Performance Grant shall not vest unless and until the Company has, for any fiscal quarter through September 30, 2022 (i) gross revenue determined in accordance with the Company's reviewed or audited financial statements in excess of $10.0 million for such fiscal quarter, (ii) positive adjusted EBITDA of at least $1.5 million, as determined based on the Company's reviewed or audited financial statements for such fiscal quarter, and (iii) the participant continues to provide services to the Company either as an employee, director or consultant on the last date of the quarter that the performance criteria is met (collectively, the "Performance Criteria"). If the Performance Criteria are met, 15% of the RSUs vest on September 1, 2020, an additional 35% of RSUs vest on September 1, 2021 and the remaining 50% of the RSUs vest on September 1, 2022.
- [F3]Represents RSUs, originally granted on July 1, 2018, convertible into common stock of the issuer on a one-for-one basis. The RSUs vest 50% on July 1, 2020 and July 1, 2021, subject to accelerated vesting under certain conditions.