Lance Morell Marram - Jan 12, 2022 Form 4 Insider Report for TPI COMPOSITES, INC (TPIC)

Role
Chief Commercial Officer
Signature
/s/ Steven G. Fishbach, Attorney-in-Fact
Stock symbol
TPIC
Transactions as of
Jan 12, 2022
Transactions value $
$0
Form type
4
Date filed
1/14/2022, 04:53 PM
Previous filing
Jan 4, 2022
Next filing
Mar 14, 2022

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 TPIC Restricted Stock Units Award $0 +33.4K $0.00 33.4K Jan 12, 2022 Common Stock 33.4K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the common stock. All unvested RSUs will automatically expire upon Reporting Person's termination of service from Issuer.
F2 50% of the restricted stock unit award vests on the first anniversary of the grant date and the remaining 50% of the restricted stock unit award vests on the second anniversary date of the grant date.
F3 Subject to the reporting person remaining a service provider to the Company through and including the second anniversary of the date of the above award, if the aggregate market value of the total number of shares issued pursuant to the award as of such date, together with the aggregate market value of any shares underlying this award that have been sold before such date, is less than the aggregate market value of the total number of shares issuable as of original grant date (in each case, as measured by reference to the closing market prices of the Company's common stock on said dates), then the reporting person will receive additional fully vested shares on such second anniversary date with an aggregate market value equal to the difference between the two amounts. Any such additional shares shall be issued pursuant to, and shall be subject to, the terms of the Company's 2015 Stock Option and incentive Plan and the applicable award agreement thereunder.