Chad Everett Harris - Sep 27, 2022 Form 4 Insider Report for Riot Blockchain, Inc. (RIOT)

Role: Officer
Signature: /s/ Alexander K. Travis, Attorney-in-Fact for Chad Everett Harris
Stock symbol: RIOT
Transactions as of: Sep 27, 2022
Transactions value $: $0
Form type: 4
Date filed: 9/29/2022, 08:50 PM
Previous filing: Jul 21, 2022
Next filing: Dec 9, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	Price $	Shares After	Date	Ownership	Footnotes
transaction	RIOT	Common Stock	Options Exercise	$0	+242 K	+320.25%	$0.00	318 K	Sep 27, 2022	Direct	F1
transaction	RIOT	Common Stock	Award	$0	+743 K	+233.95%	$0.00	1.06 M	Sep 27, 2022	Direct	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	RIOT	Restricted Stock Units	Options Exercise	$0	-242 K	-100%	$0.00	0	Sep 27, 2022	Common Stock	242 K	$0.00	Direct	F1

Explanation of Responses:

Id	Content
F1	The reported transactions represent the conversion of all outstanding restricted stock unit awards ("RSUs") granted to the Reporting Person under the Issuer's equity plan into equal awards of restricted shares of the Issuer's Common Stock ("RSAs"), as authorized by the Issuer's Compensation and Human Resources Committee (the "Committee"). The reported number of shares represents the total maximum target award allocated to the Reporting Person under the performance-incentive plan established by the Committee under the Issuer's equity plan, which are eligible to vest, if at all, based on the Issuer's achievement, during the performance period ending December 31, 2023, of performance objectives established under the performance plan. The shares are subject to forfeiture until vested, and any shares remaining unvested as of the end of the performance period will be automatically forfeited without consideration.
F2	Represents the RSA award granted to the Reporting Person as compensation for serving as the Issuer's EVP and Chief Commercial Officer pursuant to an RSA award agreement with the Issuer. These shares are eligible to vest, if at all, in two equal annual tranches as of June 1, 2023, and June 1, 2024, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates.

Content

The reported transactions represent the conversion of all outstanding restricted stock unit awards ("RSUs") granted to the Reporting Person under the Issuer's equity plan into equal awards of restricted shares of the Issuer's Common Stock ("RSAs"), as authorized by the Issuer's Compensation and Human Resources Committee (the "Committee"). The reported number of shares represents the total maximum target award allocated to the Reporting Person under the performance-incentive plan established by the Committee under the Issuer's equity plan, which are eligible to vest, if at all, based on the Issuer's achievement, during the performance period ending December 31, 2023, of performance objectives established under the performance plan. The shares are subject to forfeiture until vested, and any shares remaining unvested as of the end of the performance period will be automatically forfeited without consideration.

Represents the RSA award granted to the Reporting Person as compensation for serving as the Issuer's EVP and Chief Commercial Officer pursuant to an RSA award agreement with the Issuer. These shares are eligible to vest, if at all, in two equal annual tranches as of June 1, 2023, and June 1, 2024, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates.

Remarks:

Mr. Harris is the Executive Vice President and Chief Commercial Officer of Riot Blockchain, Inc., and is Chief Executive Officer of Riot's subsidiary, Whinstone US, Inc.