KEVIN MILLS - 03 May 2022 Form 4 Insider Report for SOCKET MOBILE, INC. (SCKT)

Role: Chief Executive Officer, Director
Signature: /s/ Kevin Mills
Issuer symbol: SCKT
Transactions as of: 03 May 2022
Net transactions value: $0
Form type: 4
Filing time: 04 May 2022, 17:00:50 UTC
Previous filing: 14 Feb 2022
Next filing: 03 Jan 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SCKT	Common Stock	Award	$0	+30,000	+20%	$0.000000	181,585	03 May 2022	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Vesting of restricted shares of Socket Mobile, Inc. Common Stock is subject to achievement of the milestones within 3 years. Unvested shares will be cancelled after May 3, 2025. Recipient earns 30% of granted shares when 12 trailing months (TTM) EBITDA exceeds $5.0M, and the earned shares will vest on May 3, 2023 or the earned date, whichever date comes later. Recipient earns additional 30% of granted shares when 12 trailing months (TTM) EBITDA exceeds $6.0M, and the earned shares will vest on May 3, 2024 or the earned date, whichever date comes later. Recipient earns the final 40% of granted shares when 12 trailing months (TTM) EBITDA exceeds $7.0M, and the earned shares will vest on May 3, 2025 or the earned date, whichever date comes later.

Content

Vesting of restricted shares of Socket Mobile, Inc. Common Stock is subject to achievement of the milestones within 3 years. Unvested shares will be cancelled after May 3, 2025. Recipient earns 30% of granted shares when 12 trailing months (TTM) EBITDA exceeds $5.0M, and the earned shares will vest on May 3, 2023 or the earned date, whichever date comes later. Recipient earns additional 30% of granted shares when 12 trailing months (TTM) EBITDA exceeds $6.0M, and the earned shares will vest on May 3, 2024 or the earned date, whichever date comes later. Recipient earns the final 40% of granted shares when 12 trailing months (TTM) EBITDA exceeds $7.0M, and the earned shares will vest on May 3, 2025 or the earned date, whichever date comes later.