Berman Richard A 4
4 · Ontrak, Inc. · Filed Dec 26, 2023
Insider Transaction Report
Form 4
Ontrak, Inc.OTRK
Berman Richard A
Director
Transactions
- Award
Restricted Stock Unit
2022-08-29+460,759→ 460,759 total→ Ontrak, Inc. Common Stock (460,759 underlying)
Footnotes (3)
- [F1]These securities were granted to Mr. Berman for his services as a member of the Board of Directors of Ontrak, Inc. (the "Company").
- [F2]Each restricted stock unit ("RSU") represents the right to receive one share of common stock upon settlement of each vested RSU, or, in the complete and sole discretion of the Company, a cash payment equal to the fair market value of one share of common stock for each vested RSU. Each vested RSU will be settled on the earlier of (i) August 29, 2025 and (ii) a change in control of the Company. On July 27, 2023, the Company effected a 1-for-6 reverse stock split (the "reverse split"). After giving effect to the reverse split, the number of shares of common stock issuable upon settlement of this RSU is 76,794 instead of 460,759.
- [F3]The RSU's vest over three years as follows: 50% vest on the first anniversary of the grant date and 25% vest on the second and third anniversaries of the grant date, in each case, subject to Mr. Berman's continued service on the Board of Directors of the Company.