NICHOLAS M. GRINDSTAFF - 15 Sep 2022 Form 4 Insider Report for Orbital Infrastructure Group, Inc. (OIGBQ)

Role
Chief Financial Officer
Signature
/s/ Nicholas M. Grindstaff
Issuer symbol
OIGBQ
Transactions as of
15 Sep 2022
Transactions value $
$0
Form type
4
Filing time
17 Oct 2022, 20:41:33 UTC
Previous filing
23 Nov 2021
Next filing
10 Jul 2025
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 +154K +108.57% 296K 15 Sep 2022 Direct F1, F2

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 +500K 500K 15 Sep 2022 Common Stock 500K Direct F3, F4, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 250,000 fully vested Restricted stock units were granted and issued net of 95,894 shares withheld for taxes.
F2 Shares were issued as part of employee agreement based on a market price of $0.63.
F3 250,000 shares will vest on 9/15/23 and 250,000 shares will vest on 9/15/24
F4 RSUs vest and automatically convert to common stock in three tranches, 9/15/22, 9/15/23 and 9/15/24.
F5 RSU shares convert to common stock on a 1 for 1 basis at the market rate of the common stock on the vesting date.
F6 Price of RSU corresponds to the market price of the common stock, which was $0.63 on 9/15/22.