Michael Testa - Mar 15, 2024 Form 4 Insider Report for Trinity Capital Inc. (TRIN)

Signature
/s/ Michael Testa
Stock symbol
TRIN
Transactions as of
Mar 15, 2024
Transactions value $
-$31,213
Form type
4
Date filed
3/19/2024, 08:10 PM
Previous filing
Jan 10, 2024
Next filing
Jun 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TRIN Common Stock Tax liability -$31.2K -2.11K -7.28% $14.80 26.9K Mar 15, 2024 Direct F1, F2
transaction TRIN Common Stock Award $0 +40.5K +150.97% $0.00 67.4K Mar 15, 2024 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Shares withheld to satisfy the reporting person's tax obligations in connection with vesting of restricted shares on March 15, 2024. Transaction exempt from Section 16(b) pursuant to Rule 16b-3.
F2 Includes (1) 40,541 shares issued under the 2019 Trinity Capital Inc. Long Term Incentive Plan (the "LTIP") on March 15, 2024, which shares vest 25% on March 15, 2025, with the remaining 75% of such shares vesting pro rata over the twelve full calendar quarters immediately following March 15, 2025; (2) 17,588 shares issued under the LTIP on March 15, 2023, which shares vested 25% on March 15, 2024, with the remaining 75% of such shares vesting pro rata over the twelve full calendar quarters immediately following March 15, 2024; (3) 5,780 shares issued under the LTIP on March 15, 2022, which shares vested 25% on March 15, 2023, with the remaining 75% of such shares vesting pro rata over the twelve full calendar quarters following March 15, 2023; and (4) 4,550 shares issued under the LTIP on September 15, 2021, which shares began vesting quarterly pro rata over the twelve full calendar quarters immediately following September 15, 2021.