Christopher D. Farrar - 13 Jan 2023 Form 4 Insider Report for Velocity Financial, Inc. (VEL)

Role
Chief Executive Officer, Director
Signature
/s/ Roland T. Kelly, by power of attorney
Issuer symbol
VEL
Transactions as of
13 Jan 2023
Transactions value $
$1,417,500
Form type
4
Filing time
13 Jan 2023, 17:22:35 UTC
Previous filing
16 Feb 2022
Next filing
18 Jan 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VEL Common Stock Award $709K +70.9K +32.97% $10.00 286K 13 Jan 2023 Direct F1
transaction VEL Performance Stock Units Award $709K +70.9K +24.79% $10.00 357K 13 Jan 2023 Direct F3
holding VEL Common Stock 203K 13 Jan 2023 FN 2 F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Acquisition of restricted stock subject to annual vesting ratably over three years from grant date.
F2 Held indirectly through through a family trust.
F3 Grant of Performance Stock Units. Under the terms of the grant, 100% of the PSUs are subject to forfeiture based on Velocity's average annual performance as measured by Core Net Income Annual Growth for fiscal years 2023, 2024 and 2025 with potential vesting of 0 to 141,750 shares following fiscal year end 2025.