Michael Wray - 16 Jun 2022 Form 4 Insider Report for NORTHWEST PIPE CO (NWPX)

Role: SVP/GM, Precast Infrastructure
Signature: /s/ Michael Wray
Issuer symbol: NWPX
Transactions as of: 16 Jun 2022
Net transactions value: $0
Form type: 4
Filing time: 21 Jun 2022, 13:19:12 UTC
Previous filing: 14 Apr 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
holding	NWPX	Common Stock						6,162	16 Jun 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	NWPX	Restricted Stock	Award		+2,161	+230%		3,099	16 Jun 2022	Common Stock	2,161		Direct	F1, F2
transaction	NWPX	Performance Shares	Award		+6,483	+230%		9,298	16 Jun 2022	Common Stock	6,483		Direct	F3, F4

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

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit represents a contingent right to receive one share of Northwest Pipe Company common stock.
F2	The Restricted Stock Units vest in installments as follows: 1/3 on January 16, 2023, 1/3 on January 15, 2024 and 1/3 on January 15, 2025.
F3	Performance Shares vest in an amount ranging from 0-200% to the extent such Performance Shares are earned. Performance Shares are earned based on Northwest Pipe Company's total EBITDA margin over the measurement period.
F4	Performance Shares vest in installments as follows: 1/3 on March 31, 2023, 1/3 on April 1, 2024 and 1/3 on March 31, 2025.