Lee Magnuson - 30 Nov 2021 Form 4 Insider Report for RAVEN INDUSTRIES INC (RAVN)

Role: General Counsel & VP
Signature: /s/ Lee Magnuson
Issuer symbol: RAVN
Transactions as of: 30 Nov 2021
Transactions value $: $0
Form type: 4
Filing time: 01 Dec 2021, 18:35:58 UTC
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RAVN	Common Stock	Disposed to Issuer		-3,004	-100%		0	30 Nov 2021	Direct	F1
transaction	RAVN	Common Stock	Disposed to Issuer		-28	-100%		0	30 Nov 2021	By spouse	F1

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	RAVN	Stock Option	Disposed to Issuer		-2,030	-100%		0	30 Nov 2021	Common Stock	2,030	$35.05	Direct	F1
transaction	RAVN	Restricted Stock Units - 2019	Disposed to Issuer		-1,052	-100%		0	30 Nov 2021	Common Stock	1,052		Direct	F1, F2, F4, F9
transaction	RAVN	Restricted Stock Units - 2020	Disposed to Issuer		-2,309	-100%		0	30 Nov 2021	Common Stock	2,309		Direct	F1, F2, F5, F10
transaction	RAVN	Restricted Stock Units - 2021	Disposed to Issuer		-1,299	-100%		0	30 Nov 2021	Common Stock	1,299		Direct	F1, F2, F11
transaction	RAVN	Restricted Stock Units - 2019	Disposed to Issuer		-2,104	-100%		0	30 Nov 2021	Common Stock	2,104		Direct	F1, F3, F6, F12
transaction	RAVN	Restricted Stock Units - 2020	Disposed to Issuer		-3,759	-100%		0	30 Nov 2021	Common Stock	3,759		Direct	F1, F3, F7, F13
transaction	RAVN	Restricted Stock Units - 2021	Disposed to Issuer		-2,598	-100%		0	30 Nov 2021	Common Stock	2,598		Direct	F1, F3, F8, F14

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

Explanation of Responses:

Id	Content
F1	Disposed of as a result of the merger pursuant to the previously announced Agreement and Plan of Merger (the "Merger"), dated as of June 20, 2021, by and among Raven Industries, Inc. ("Raven"), CNH Industrial N.V. and CNH Industrial South Dakota, Inc., as it may be amended from time to time (the "Merger Agreement"). The shares of Raven Common Stock were converted in the Merger into the right to receive $58.00 in cash per share of Common Stock.
F2	Each Time-Based Restricted Stock Unit is the economic equivalent of one share of Raven Common Stock.
F3	Each Performance-Based Restricted Stock Unit is the economic equivalent of one share of Raven Common Stock.
F4	Includes 27 dividend equivalent units.
F5	Includes 28 dividend equivalent units.
F6	The target number of shares of Raven Common Stock was 1,025. Includes 27 dividend equivalent units.
F7	The target number of shares of Raven Common Stock was 2,281. Includes 28 dividend equivalent units.
F8	The target number of shares of Raven Common Stock was 1,299.
F9	The Time-based Restricted Stock Units become vested on the third anniversary of the effective date (April 5, 2019), provided that the Reporting Person remains continuously employed by Raven through such vesting date.
F10	The Time-based Restricted Stock Units become vested on the third anniversary of the effective date (April 6, 2020), provided that the Reporting Person remains continuously employed by Raven through such vesting date.
F11	The Time-based Restricted Stock Units become vested on the third anniversary of the effective date (April 5, 2021), provided that the Reporting Person remains continuously employed by Raven through such vesting date.
F12	Subject to the achievement of certain performance conditions, Performance-based Restricted Stock Units become vested on the third anniversary of the effective date (April 5, 2019), provided that the Reporting Person remains continuously employed by Raven through such vesting date.
F13	Subject to the achievement of certain performance conditions, Performance-based Restricted Stock Units become vested on the third anniversary of the effective date (April 6, 2020), provided that the Reporting Person remains continuously employed by Raven through such vesting date.
F14	Subject to the achievement of certain performance conditions, Performance-based Restricted Stock Units become vested on the third anniversary of the effective date (April 5, 2021), provided that the Reporting Person remains continuously employed by Raven through such vesting date.