Darryll E. Dewan - Jan 16, 2025 Form 4 Insider Report for TSS, Inc. (TSSI)

Role
President and CEO, Director
Signature
/s/ Christopher R. Johnson, Attorney-in-Fact
Stock symbol
TSSI
Transactions as of
Jan 16, 2025
Transactions value $
-$151,902
Form type
4
Date filed
1/21/2025, 09:15 PM
Previous filing
Dec 10, 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TSSI Common Stock Award $0 +100K +29.33% $0.00 441K Jan 16, 2025 Direct F1
transaction TSSI Common Stock Tax liability -$152K -12.9K -2.92% $11.79 428K Jan 16, 2025 Direct F2
transaction TSSI Common Stock Award $0 +200K +46.73% $0.00 628K Jan 16, 2025 Direct F3
holding TSSI Common Stock 5K Jan 16, 2025 By Spouse
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares of common stock represent restricted stock previously granted to Mr. Dewan that were subject to financial performance vesting criteria that has been achieved. The restricted stock vests in installments as follows assuming Mr. Dewan remains employed through the vesting date: (1) 50,000 of the shares vested on the grant date, and (2) 50,000 of the shares will vest on January 1, 2026, and are subject to forfeiture.
F2 Reflects shares surrendered to the Issuer to satisfy tax withholding obligations in connection with the vesting of the restricted stock described in footnote (1) herein.
F3 These shares of common stock represent restricted stock granted pursuant to an award agreement between Mr. Dewan and the Issuer and are subject to forfeiture. The restricted stock award will vest in installments as follows: (1) 100,000 shares will vest on January 16, 2026, and (2) 100,000 shares will vest on January 16, 2027.