Greg L. Mills - 01 Mar 2023 Form 4 Insider Report for ADAMS RESOURCES & ENERGY, INC.

Role: President, GulfMark Energy
Signature: /s/ Greg L. Mills
Issuer symbol: N/A
Transactions as of: 01 Mar 2023
Net transactions value: -$37,907
Form type: 4
Filing time: 02 Mar 2023, 15:33:22 UTC
Previous filing: 31 Jan 2023
Next filing: 04 Mar 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AE	Common stock	Options Exercise	$0	+373	+33%	$0.000000	1,515	01 Mar 2023	Direct
transaction	AE	Common stock	Options Exercise	$0	+357	+24%	$0.000000	1,872	01 Mar 2023	Direct
transaction	AE	Common stock	Options Exercise	$0	+400	+21%	$0.000000	2,272	01 Mar 2023	Direct
transaction	AE	Common stock	Options Exercise	$0	+1,547	+68%	$0.000000	3,819	01 Mar 2023	Direct
transaction	AE	Common stock	Tax liability	$37,907	-653	-17%	$58.05	3,166	01 Mar 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AE	Restricted stock units	Options Exercise	$0	-373	-16%	$0.000000	1,917	01 Mar 2023	Common stock	373		Direct	F1, F2
transaction	AE	Restricted stock units	Options Exercise	$0	-357	-19%	$0.000000	1,560	01 Mar 2023	Common stock	357		Direct	F2, F3
transaction	AE	Restricted stock units	Options Exercise	$0	-400	-26%	$0.000000	1,160	01 Mar 2023	Common stock	400		Direct	F2, F4
transaction	AE	Performance share units	Options Exercise	$0	-1,547	-45%	$0.000000	1,877	01 Mar 2023	Common stock	1,547		Direct	F5
transaction	AE	Restricted stock units	Award	$0	+1,166	+101%	$0.000000	2,326	01 Mar 2023	Common stock	1,166		Direct	F2, F6, F7
transaction	AE	Performance share units	Award	$0	+1,165	+62%	$0.000000	3,058	01 Mar 2023	Common stock	1,165		Direct	F8, F9

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reporting person was previously granted 1,117 restricted stock units of Adams Resources & Energy, Inc. (AE) vesting in three equal installments beginning March 1, 2021. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F2	Total includes restricted stock units previously awarded that have different vesting and expiration dates, as reported.
F3	The reporting person was previously granted 1,072 restricted stock units of Adams Resources & Energy, Inc. (AE) vesting in three equal installments beginning March 1, 2022. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F4	The reporting person was previously granted 1,202 restricted stock units of Adams Resources & Energy, Inc. (AE) vesting in three equal installments beginning March 1, 2023. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F5	The reporting person was previously granted performance share units of AE vesting on March 1, 2023.
F6	The reporting person received a grant of 1,166 restricted stock units of Adams Resources & Energy, Inc. (AE) on March 1, 2023. Each restricted stock unit represents a contingent right to receive one share of AE common stock upon vesting.
F7	The restricted stock units will vest (i.e., the restrictions will lapse) in three equal annual installments beginning on March 1, 2024, provided the reporting person remains in continuing active service on the vesting date (subject to accelerated vesting in some circumstances).
F8	The reporting person received a grant of 1,165 performance share units of Adams Resources & Energy, Inc. on March 1, 2023. The performance share units will vest on March 1, 2026, provided the reporting person remains in continuing active service on the vesting date (subject to accelerated vesting in certain circumstances), and subject to the attainment of certain performance criteria as specified in the award agreement.
F9	Total includes 676 and 1,201 performance share units previously awarded on March 1, 2021 and March 1, 2022, respectively, as reported. An additional 16 performance share units are the result of the achievement of applicable performance conditions during the 2022 period.