RAUN DAVID 4
4 · ONE STOP SYSTEMS, INC. · Filed Jun 21, 2023
Insider Transaction Report
Form 4
RAUN DAVID
Director
Transactions
- Exercise/Conversion
Restricted Stock Units
2023-06-16−68,688→ 0 total→ Common Stock (68,688 underlying) - Exercise/Conversion
Common Stock
2023-06-16+68,688→ 514,576 total - Tax Payment
Common Stock
2023-06-16$2.95/sh−52,883$156,005→ 461,693 total - Disposition to Issuer
Common Stock
2023-06-16−59,566→ 402,127 total
Footnotes (6)
- [F1]Restricted stock units convert into shares of common stock on a one-for-one basis.
- [F2]Includes 134,000 unvested restricted stock units held by the Reporting Person, which remain subject to certain vesting conditions.
- [F3]The Reporting Person forfeited 52,883 shares of common stock upon conversion of 143,122 vested and outstanding restricted stock units into shares of common stock to cover tax withholdings, 68,688 of which restricted stock units were reported in Table II and the remaining 74,434 restricted stock units were reported in Table I, using the market price of the Issuer's common stock at the time of forfeiture.
- [F4]Includes 59,566 unvested restricted stock units held by the Reporting Person, which remain subject to certain vesting conditions.
- [F5]The Reporting Person forfeited 59,566 unvested restricted stock units in connection with the termination of the Reporting Person's employment as President and CEO of the Issuer. As a result, the Reporting Person no longer holds any unvested restricted stock units.
- [F6]The restricted stock units ("RSUs") were scheduled to vest over three years, with 1/3 of the RSUs vesting following the one-year anniversary of the date of grant, and the remaining RSUs vesting in four equal installments, commencing six months after the one-year anniversary of the date of grant and every six months thereafter until fully vested, provided that grantee is still employed on each such vesting date. In connection with the termination of the Reporting Person's employment as President and CEO of the Issuer, vesting of the remaining RSUs accelerated and the RSUs became fully vested as of the date of such termination.