Andrew J. Herning - Nov 11, 2022 Form 4 Insider Report for BTRS Holdings Inc. (BTRS)

Signature
/s/ Aimie Killeen, Attorney-in-Fact
Stock symbol
BTRS
Transactions as of
Nov 11, 2022
Transactions value $
-$2,778
Form type
4
Date filed
11/15/2022, 04:31 PM
Previous filing
Jun 3, 2022
Next filing
Nov 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BTRS Class 1 Common Stock Sale -$2.78K -294 -0.32% $9.45 92.8K Nov 11, 2022 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the sale of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of restricted stock units ("RSUs") received pursuant to Section 3.07 (the "Earnout Rights") of that certain Business Combination Agreement, dated as of October 18, 2020 and as amended, by and among the Issuer and certain other parties thereto. Each RSU represents a contingent right to receive one share of class 1 common stock of the Issuer. The number of RSUs issuable pursuant to the Earnout Rights was determined, and the Reporting Person's right to receive such RSUs subject to the Earnout Rights became fixed and irrevocable on February 10, 2021, the date on which the Issuer's closing share price equaled or exceeded $12.50 and $15.00 for 20 trading days within a consecutive 30-trading day period.