Jeffrey T. Taylor - 23 Jan 2024 Form 4 Insider Report for Velocity Financial, Inc. (VEL)

Role
Executive VP, Capital Markets
Signature
/s/ Roland T. Kelly, by power of attorney
Issuer symbol
VEL
Transactions as of
23 Jan 2024
Transactions value $
$708,720
Form type
4
Filing time
25 Jan 2024, 15:39:46 UTC
Previous filing
17 Jan 2024
Next filing
16 Feb 2024
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 $354K +22.3K +21.88% $15.86 124K 23 Jan 2024 Direct F1
transaction VEL Performance Stock Units Award $354K +22.3K +17.95% $15.86 147K 23 Jan 2024 Direct 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 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 2024, 2025 and 2026 with potential vesting of 0 to 200% of the granted PSUs following fiscal year end 2026.