Form 4/A for ASPN ASPEN AEROGELS INC
Accepted 2022-06-06 00:00:00 ET · period of report 2022-06-02 · accession 0001209191-22-034750 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DMA | 2022-06-06 | 2022-06-02 | ASPN | Johnson Virginia | CLO, GC, Sec | A - Grant | $0.00 | +59.5K | 59.5K | New | $0 |
| DA | 2022-06-06 | 2022-06-02 | ASPN | Johnson Virginia | CLO, GC, Sec | A - Grant | $0.00 | +29.9K | 29.9K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2022-06-02 | A | A | 5,955 | $0.00 | 5,955 | D | — | — | (F1) Each Restricted Stock Unit ("RSU") represent the right to receive one share of Common Stock upon vesting. The RSUs vest as to one-third of the shares on June 2, 2023, an additional one-third of the shares on June 2, 2024 and the remaining shares on June 2, 2025. |
| 2 | Common | Common Stock | 2022-06-02 | A | A | 53,590 | $0.00 | 59,545 | D | — | — | (F2) The reporting person was granted restricted shares of common stock (the "Award") pursuant to a Performance-Based Restricted Stock Agreement by and between Aspen Aerogels, Inc. and the reporting person subject to the 2014 Employee, Director and Consultant Equity Incentive Plan. In order for a tranche of this Award to vest, both time and performance vesting conditions must be satisfied. For the time vesting condition, a tranche will vest at the later of (i) three years from the grant date or (ii) one year from the date when an applicable performance hurdle is achieved, subject to a maximum five-year vesting period for shares with respect to which the performance hurdle has been achieved. With respect to the performance vesting condition, there are three tranches with different share price hurdles and a five-year total performance period. If a share price hurdle is not met after five years, the applicable tranche is forfeited. (F3) (cont.) The share price hurdle is met by reference to a 30-day volume weighted average price (VWAP) that is maintained for 60 days (the "Share Price Hurdle"). The first tranche consists of 34% of the restricted shares of common stock granted under the Award, with the Share Price Hurdle equal to $43.33.The second tranche consists of 33% of the restricted shares of common stock granted under the Award, with the Share Price Hurdle equal to $64.99. The third tranche consists of 33% of the restricted shares of common stock granted under the Award, with the Share Price Hurdle equal to $86.65. (F4) Represents 5,955 Restricted Stock Units and 53,590 shares of Restricted Common Stock. |
| 3 | Derivative | Stock Option (Right-to-Buy) | 2022-06-02 | A | A | 29,927 | $0.00 | 29,927 | D | $18.89 · — to 2032-06-02 | 29,927 Common Stock | (F5) The options will vest as to one-third of the shares on June 2, 2023, an additional one-third of the shares on June 2, 2024 and the remaining one-third of the shares on June 2, 2025. |