Ronald K. Lloyd - Mar 8, 2022 Form 4 Insider Report for AZIYO BIOLOGICS, INC. (ELUT)

Role: PRESIDENT AND CEO, Director
Signature: /s/ Jeffrey Hamet, Attorney-in-Fact for Ronald K. Lloyd
Stock symbol: ELUT
Transactions as of: Mar 8, 2022
Transactions value $: $0
Form type: 4
Date filed: 3/10/2022, 07:39 PM
Previous filing: May 11, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ELUT	Class A Common Stock	Options Exercise	$0	+4.07K	+14.7%	$0.00	31.8K	Mar 8, 2022	Direct	F1, 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	ELUT	Stock Option (Right to Buy)	Award	$0	+139K		$0.00	139K	Mar 8, 2022	Class A Common Stock	139K	$5.08	Direct	F3
transaction	ELUT	Restricted Stock Units	Award	$0	+37.8K		$0.00	37.8K	Mar 8, 2022	Class A Common Stock	37.8K		Direct	F4, F5
transaction	ELUT	Restricted Stock Units	Options Exercise	$0	-4.07K	-25%	$0.00	12.2K	Mar 8, 2022	Class A Common Stock	4.07K		Direct	F1, F6
transaction	ELUT	Restricted Stock Units	Award	$0	+39.9K		$0.00	39.9K	Mar 8, 2022	Class A Common Stock	39.9K		Direct	F4, F7

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

Explanation of Responses:

Id	Content
F1	Restricted stock units convert into shares of Class A Common Stock on a one-for-one basis.
F2	Includes 4,552 shares of Class A Common Stock acquired under the Company's 2020 Employee Stock Purchase Plan.
F3	The option vests as to 25% of the shares on March 8, 2023 and in 12 equal quarterly installments thereafter, such that the option shall be fully vested and exercisable on March 8, 2026.
F4	Each restricted stock unit represents a contingent right to receive one share of Issuer Class A Common Stock.
F5	The restricted stock units vest if the Issuer's Class A Common Stock achieves a price per share equal to or greater than $10.00 for any period of thirty (30) consecutive trading days prior to March 8, 2024.
F6	On March 8, 2021, the Reporting Person was granted 16,288 restricted stock units, vesting in four substantially equal annual installments beginning on March 8, 2022.
F7	The restricted stock units vest on September 8, 2022, subject to the Reporting Person's continuous employment with the Issuer through such vesting date.