Riot Blockchain Inc.
07/03/2024 | Press release | Distributed by Public on 07/03/2024 16:30
Statement of Changes in Beneficial Ownership - Form 4
Ownership Submission
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
(e.g., puts, calls, warrants, options, convertible securities)
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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(e.g., puts, calls, warrants, options, convertible securities)
| 1. Title of Derivate Security | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security | 8. Price of Derivative Security | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) | 11. Nature of Indirect Beneficial Ownership |
| Code | V | (A) | (D) | Date Exercisable | Expriation Date | Title | Amount or Number of Shares |
Reporting Owners
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Yee Colin M. C/O RIOT PLATFORMS, INC. 3855 AMBROSIA STREET, SUITE 301 CASTLE ROCK, CO80109 |
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EVP, CFO |
Signatures
| /s/ Alexander K. Travis, Attorney-in-Fact for Colin Yee | 2024-07-03 |
| **Signature of Reporting Person | Date |
Explanation of Responses:
| (*) | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
| (**) | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | Pursuant to the Issuer's 2019 Equity Incentive Plan, as amended, (the "Plan") vested restricted stock units ("RSUs") convert into shares of the Issuer's common stock, no par value per share, on a one-for-one basis. |
| (2) | On July 13, 2023, pursuant to the equity award agreement between the Issuer and Reporting Person (the "Award Agreement"), the reported service-based RSUs were eligible to vest, if at all, in three three (3) approximately equal tranches as of July 1, 2024, 2025, and 2026, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates. |
| (3) | Each unvested RSU represents the contingent right to receive one (1) share of Common Stock upon vesting and settlement by the Issuer in accordance with its compensation practices and the Plan. The actual number of shares of Common Stock to be issued to the Reporting Person will depend on the number of RSUs that vest, as well as any net settlement thereof to satisfy any tax obligations due, as permitted by the Committee. |
| (4) | Represents the total number of RSUs held or beneficially owned, directly and indirectly, by the Reporting Person, following the reported transaction. |
| (5) | Represents the maximum number of service-based RSUs granted to the Reporting Person by the Issuer, as of the indicated date, pursuant to the Issuer's Long-Term Incentive Program (the "LTIP") established, as of July 13, 2023, by the Issuer's Compensation and Human Resources Committee of its Board of Directors (the "Committee") established under the Plan, which are subject to vesting and restrictions, as set forth in the Award Agreement. |
| (6) | Pursuant to the Award Agreement, the service-based RSUs reported on this line are eligible to vest in three (3) approximately equal tranches as of July 1, 2025, 2026, and 2027, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates. |
| (7) | The number of RSUs reported represents the maximum achievable award under the LTIP of up to 200% of the target amount, which is 251,256 shares, during the three-year performance period from January 1, 2024 through December 31, 2026 (the "Performance Period"), granted to the Reporting Person, as authorized by the Committee under the LTIP, pursuant to the Award Agreement with the Issuer. The performance-based RSUs are eligible to vest if at all, based upon certification by the Committee of the Company's achievement, as of the end of the Performance Period, of certain performance objectives, and subject to the Reporting Persons continued service with the Issuer through July 1, 2027. Any unvested portion of the performance-based RSUs shall be automatically forfeited and returned to the Issuer, without consideration therefore. |
| (8) | Pursuant to the Award Agreement, the reported RSUs are eligible to vest as of the end of the Award Term, based on the Issuer's achievement of the performance objectives established for it under the LTIP by the Committee, subject to the Reporting Person's continuous service with the Issuer through vesting. |