Scott Adams Stepp - Jun 13, 2022 Form 4 Insider Report for CKX LANDS, INC. (CKX)

Role
Chief Financial Officer
Signature
/s/ Scott A. Stepp
Stock symbol
CKX
Transactions as of
Jun 13, 2022
Transactions value $
$0
Form type
4
Date filed
6/15/2022, 07:08 PM
Previous filing
May 11, 2022
Next filing
Jun 17, 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CKX Common Stock Award $0 +38.4K $0.00 38.4K Jun 13, 2022 Direct F1
transaction CKX Common Stock Options Exercise $0 +15.8K +41.15% $0.00 54.2K Jun 13, 2022 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 CKX Performance Shares Award $0 +140K $0.00 140K Jun 13, 2022 Common Stock 140K Direct F2
transaction CKX Performance Shares Options Exercise $0 -15.8K -11.27% $0.00 124K Jun 13, 2022 Common Stock 15.8K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported transaction was the grant of restricted stock units (RSUs) that are payable solely in shares of the Issuer's common stock. The RSUs will vest incrementally on July 15, 2022, 2023 and 2024 if the Reporting Person remains employed by the Issuer on those dates.
F2 Each performance share represents a contingent right to receive one share of the Issuer's common stock. Various percentages of the performance share award vest if the closing price of the Issuer's common stock equals or exceeds, for at least ten consecutive trading days during the performance period, prices of $12, $13, $14, $14.50 and $15 per share. The performance period is July 15, 2020 to July 15, 2024.
F3 The Issuer's common stock met the $12 trading price target on May 19, 2021. Accordingly, 11.27% of the award was vested at the time it was granted.