WILLIAM J. CLOUGH - 13 Apr 2022 Form 4 Insider Report for Orbital Energy Group, Inc. (OIGBQ)

Role
Exec Chairman and Gen Counsel, Director
Signature
/s/ William F. Clough
Issuer symbol
OIGBQ
Transactions as of
13 Apr 2022
Net transactions value
-$706,104
Form type
4
Filing time
18 Apr 2022, 11:10:12 UTC
Previous filing
14 Feb 2022
Next filing
17 Oct 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OIGBQ Common Stock Award +278,867 +87% 598,347 13 Apr 2022 Direct F4

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 OIGBQ Restricted Stock Units Award $814,896 +397,510 $2.05* 397,510 13 Apr 2022 Common Stock 397,510 Direct F1, F2, F3
transaction OIGBQ SARs Disposed to Issuer $729,000 -450,000 -100% $1.62* 0 13 Apr 2022 Common Stock $1.00 Direct F5
transaction OIGBQ SARs Disposed to Issuer $792,000 -900,000 -100% $0.8800 0 13 Apr 2022 Common Stock $2.89 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 RSUs were granted in connection with cancellation of previously issued cash-settled SARS. Of the RSUs granted, 457,224 were fully vested and the remaining 397,510 will vest in equal installments on the first and second anniversaries of the date of issuance.
F2 RSUs are convertible to common shares on a one-to-one basis.
F3 RSUs do not have expiration dates.
F4 Fully vested RSUs, which were immediately convertible to common stock, were issued in connection with the cancellation of previously issued cash-settled SARs. 457,224 shares were granted and 178,357 were withheld for payroll taxes.
F5 450,000 SARs were exchanged for 355,861 RSUs, of which 323,109 were fully vested and immediately convertible into common stock and 32,752 will vest in equal installments on the first and second anniversaries of the date of issuance.
F6 900,000 SARs were exchanged for 498,873 RSUs, of which 134,115 were fully vested and immediately convertible into common stock and 364,758 will vest in equal installments on the first and second anniversaries of the date of issuance.