Barnes Michael Gene 4
4 · TIPTREE INC. · Filed Nov 22, 2021
Insider Transaction Report
Form 4
TIPTREE INC.TIPT
Barnes Michael Gene
DirectorVice Chairman of the Board
Transactions
- Exercise/Conversion
Common Stock
2021-11-22+100,000→ 8,722,949 total - Exercise/Conversion
Performance Restricted Stock Units
2021-11-22−100,000→ 1,400,000 total→ Common Stock (100,000 underlying)
Footnotes (2)
- [F1]The acquisition of the common stock resulted from the vesting of an equal number of performance restricted stock units ("PRSUs") granted on August 4, 2021. Each PRSU represents a contingent right to receive one share of Tiptree Inc. ("Tiptree") common stock.
- [F2]The PRSUs will vest upon Tiptree achieving each of five Tiptree share price target milestones, based on the average of the thirty (30) trading day closing stock price, ranging from $15 to $60 (adjusted for dividends paid) prior to the tenth anniversary of the date of grant, subject to the Reporting Person's continued employment with Tiptree. Any unvested PRSUs shall expire on August 4, 2031.