Joanne Wang - Oct 25, 2021 Form 4 Insider Report for Karat Packaging Inc. (KRT)

Role: Chief Operating Officer
Signature: /s/ Joanne Tzu Jung Wang
Stock symbol: KRT
Transactions as of: Oct 25, 2021
Transactions value $: $0
Form type: 4
Date filed: 10/25/2021, 05:59 PM
Previous filing: Apr 20, 2023
Next filing: Dec 21, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KRT	Common Stock	Options Exercise		+25K	+3571.43%		25.7K	Oct 25, 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	KRT	Restricted Stock Units	Options Exercise	$0	-25K	-100%	$0.00^*	0	Oct 25, 2021	Common Stock	25K		Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares of Karat Packaging Inc.'s (the "Company") Common Stock received upon the vesting of Restricted Stock Units ("RSUs").
F2	RSUs convert into Common Stock on a one-for-one basis.
F3	In February 2019, Joanne Wang was granted 75,000 RSUs. These RSUs were scheduled to vest in three equal installments beginning on, April 15, 2022, the first anniversary of the closing of the Company's initial public offering. On September 20, 2021, the Compensation Committee of the Board of Directors of the Company approved the accelerated vesting of these RSUs to vest in three equal installments on October 15, 2021, October 15, 2022 and October 15, 2023. The 25,0000 shares underlying the first tranche of RSUs vested on October 15, 2021 and settled on October 25, 2021.