Cris Keirn - Mar 31, 2025 Form 4 Insider Report for Turtle Beach Corp (TBCH)

Signature
/s/ Megan S. Wynne, attorney-in-fact for Cris Keirn
Stock symbol
TBCH
Transactions as of
Mar 31, 2025
Transactions value $
-$287,011
Form type
4
Date filed
4/2/2025, 07:52 PM
Previous filing
Nov 21, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TBCH Common Stock Options Exercise +7.48K +20.97% 43.1K Apr 1, 2025 Direct F1
transaction TBCH Common Stock Options Exercise +7.92K +18.37% 51K Apr 1, 2025 Direct F1
transaction TBCH Common Stock Options Exercise +4.5K +8.82% 55.5K Apr 1, 2025 Direct F2
transaction TBCH Common Stock Options Exercise +5.25K +9.45% 60.8K Apr 1, 2025 Direct F2
transaction TBCH Common Stock Options Exercise +7K +11.51% 67.8K Apr 1, 2025 Direct F2
transaction TBCH Common Stock Options Exercise +6.55K +9.66% 74.3K Apr 1, 2025 Direct F2
transaction TBCH Common Stock Tax liability -$287K -19.6K -26.39% $14.63 54.7K Apr 1, 2025 Direct F3

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 TBCH Performance Stock Units Award $0 +7.48K $0.00 7.48K Mar 31, 2025 Common stock 7.48K Direct F4, F5
transaction TBCH Performance Stock Units Options Exercise $0 -7.48K -100% $0.00 0 Apr 1, 2025 Common stock 7.48K Direct F4, F5
transaction TBCH Performance Stock Units Award $0 +7.92K $0.00 7.92K Mar 31, 2025 Common stock 7.92K Direct F4, F6
transaction TBCH Performance Stock Units Options Exercise $0 -7.92K -100% $0.00 0 Apr 1, 2025 Common stock 7.92K Direct F4, F6
transaction TBCH Restricted Stock Units Options Exercise $0 -4.5K -100% $0.00 0 Apr 1, 2025 Common stock 4.5K Direct F7, F8
transaction TBCH Restricted Stock Units Options Exercise $0 -5.25K -50% $0.00 5.25K Apr 1, 2025 Common stock 5.25K Direct F7, F9
transaction TBCH Restricted Stock Units Options Exercise $0 -7K -33.33% $0.00 14K Apr 1, 2025 Common stock 7K Direct F7, F10
transaction TBCH Restricted Stock Units Options Exercise $0 -6.55K -25% $0.00 19.7K Apr 1, 2025 Common stock 6.55K Direct F7, F11
transaction TBCH Restricted Stock Units Award $0 +34.2K $0.00 34.2K Apr 1, 2025 Common stock 34.2K Direct F7, F12
holding TBCH Stock Option (Right to Buy) 19.2K Mar 31, 2025 Common stock 19.2K $12.10 Direct F13
holding TBCH Stock Option (Right to Buy) 12.6K Mar 31, 2025 Common stock 12.6K $5.95 Direct F13
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Performance stock units ("PSUs") were converted into common stock on a one-for-one basis.
F2 Restricted stock units ("RSUs") were converted into common stock on a one-for-one basis.
F3 Represents shares withheld to satisfy tax withholding obligations upon the vesting of PSUs and RSUs awarded to the reporting person.
F4 These securities are PSUs representing a contingent right to receive one share of Turtle Beach Corporation common stock.
F5 Acquired upon achievement of certain performance criteria pursuant to 34% of the PSUs granted April 1, 2022 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of PSUs is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These PSUs vested with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024. Vested shares for this grant have been rounded down to the nearest whole share upon conversion into common stock on a one-for-one basis.
F6 Acquired upon achievement of certain performance criteria pursuant to 33% of the performance stock units granted April 1, 2023 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These PSUs vested with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024. Vested shares for this grant have been rounded down to the nearest whole share upon conversion into common stock on a one-for-one basis.
F7 The securities are RSUs representing a contingent right to receive one share of Turtle Beach Corporation common stock or, cash with a value equal to the fair market value of the underlying common stock or, a combination thereof.
F8 These RSUs vested in full on April 1, 2025.
F9 These RSUs vest in equal annual installments until April 1, 2026.
F10 These RSUs vest in equal annual installments until April 1, 2027.
F11 These RSUs vest in equal annual installments until April 1, 2028.
F12 One-quarter of these RSUs will vest on April 1, 2026, with the remainder of the RSUs vesting in equal annual installments until April 1, 2029.
F13 These options were exercisable as of the transaction date.