Saleel Awsare - Sep 9, 2024 Form 4 Insider Report for LANTRONIX INC (LTRX)

Role: President & CEO, Director
Signature: /s/ Jeremy Whitaker, Attorney-in-fact for Saleel Awsare
Stock symbol: LTRX
Transactions as of: Sep 9, 2024
Transactions value $: -$102,109
Form type: 4
Date filed: 9/10/2024, 06:41 PM
Previous filing: Jul 23, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LTRX	Common Stock	Award	$0	+47K	+156.75%	$0.00	77K	Sep 9, 2024	Direct	F1
transaction	LTRX	Common Stock	Tax liability	-$102K	-24.7K	-32.02%	$4.14	52.4K	Sep 9, 2024	Direct	F2

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

Explanation of Responses:

Id	Content
F1	On November 20, 2023, the reporting person was granted Restricted Stock Units ("RSUs") with performance-based vesting requirements. A percentage of the target number of RSUs subject to the award are eligible to vest in each of the three years beginning in fiscal 2024 based on certain earnings per share targets, revenue targets and relative total stockholder return conditions. This transaction reflects the vesting and payment of 47,025 RSUs subject to the award on September 9, 2024, with respect to the performance conditions that were satisfied for fiscal 2024.
F2	In accordance with the terms of the applicable RSU award agreements, 24,664 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.

Content

On November 20, 2023, the reporting person was granted Restricted Stock Units ("RSUs") with performance-based vesting requirements. A percentage of the target number of RSUs subject to the award are eligible to vest in each of the three years beginning in fiscal 2024 based on certain earnings per share targets, revenue targets and relative total stockholder return conditions. This transaction reflects the vesting and payment of 47,025 RSUs subject to the award on September 9, 2024, with respect to the performance conditions that were satisfied for fiscal 2024.

In accordance with the terms of the applicable RSU award agreements, 24,664 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.