Harvey S. Kanter - Oct 15, 2021 Form 4 Insider Report for DESTINATION XL GROUP, INC. (DXLG)

Role
President and CEO, Director
Signature
Harvey S. Kanter
Stock symbol
DXLG
Transactions as of
Oct 15, 2021
Transactions value $
-$565,827
Form type
4
Date filed
10/18/2021, 04:51 PM
Previous filing
Sep 13, 2021
Next filing
Nov 12, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DXLG Common Stock, $0.01 par value Options Exercise $96K +150K +31.85% $0.64* 621K Oct 15, 2021 Direct
transaction DXLG Common Stock, $0.01 par value Options Exercise $117K +221K +35.6% $0.53* 842K Oct 15, 2021 Direct
transaction DXLG Common Stock, $0.01 par value Tax liability -$779K -132K -15.66% $5.91 710K Oct 15, 2021 Direct F1

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 DXLG Employee Stock Option (Right to Buy) Options Exercise $0 -150K -33.33% $0.00 300K Oct 15, 2021 Common Stock 150K $0.64 Direct F2
transaction DXLG Employee Stock Option (Right to Buy) Options Exercise $0 -221K -25% $0.00 663K Oct 15, 2021 Common Stock 221K $0.53 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares withheld from shares otherwise issuable upon exercise of the options to cover estimated withholding taxes, based on the closing price of the Issuer's common stock of $5.91 on the date immediately preceding the transaction date.
F2 The option vests in three equal installments. 150,000 options became exercisable on June 10, 2021. 150,000 options will become exercisable April 1, 2022 and 150,000 options will become exercisable on April 1, 2023.
F3 The non-qualified stock options represent the time-based portion of the 2020-2021 Long-Term Incentive Plan award to the Reporting Person. The option vests in four equal installments. 221,020 options became exercisable on June 11, 2021. 221,020 options will become exercisable on April 1, 2022, 221,020 options will become exercisable on April 1, 2023 and 221,020 options will become exercisable on April 1, 2023.