Gary Mark Bendza - 28 May 2024 Form 4 Insider Report for TELOS CORP (TLS)

Role
EVP, CFO
Signature
/s/ Helen M. Oh, attorney-in-fact
Issuer symbol
TLS
Transactions as of
28 May 2024
Net transactions value
$0
Form type
4
Filing time
30 May 2024, 16:43:03 UTC
Previous filing
20 May 2024
Next filing
22 Jul 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding TLS Common Stock 4,905 28 May 2024 By 401k plan
holding TLS Common Stock 768,489 28 May 2024 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 TLS Performance-Based RSUs Award $0 +1,338,489 $0.000000 1,338,489 28 May 2024 Common Stock 1,338,489 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each performance-based RSU presents a contingent right to receive one share of Issuer common stock. A specified number of performance-based RSUs will vest and be settled in shares of Issuer common stock upon Issuers common stock trading at or above a certain market price per share for 50 consecutive calendar days before December 31, 2026, as reported by the NASDAQ Global Market: (a) 243,362 units if trading at or above $6.00 per share; (b) 243,362 units if trading at or above $8 per share; (c) 365,042 units if trading at or above $10 per share; and (d) 486,723 units if trading at or above $12 per share. The reporting person may achieve one or more of these criteria. The Compensation Committee shall determine whether the performance criteria were met. The performance criteria are subject to equitable adjustment by the Compensation Committee in the event of the occurrence of extraordinary or unusual events, including without limitation acquisitions or dispositions.
F2 See Footnote1.