Turtle Beach (HEAR) CFO Hanson acquired 41,185 shares

Insider transactions reported

John T Hanson (CFO and Treasurer at Turtle Beach Corporation, HEAR) reported that they acquired 41,185 shares, and gave up 18,261 shares at $17.17 to cover taxes or an exercise price on Apr 1, 2024. After these transactions the filing shows 68,728 shares held directly.

Reporting person

Hanson John T

Role

CFO and Treasurer

Options and other derivatives

Holdings before and after

• Common Stock: 45,804 to 68,728 direct
• Performance Stock Units: 4,000 to 0 direct
• Restricted Stock Units: 6,875 to 8,736 direct

Footnotes from the filing

1. 1. Performance stock units were converted into common stock on a one-for-one basis.
2. 2. Restricted stock units were converted into common stock on a one-for-one basis.
3. 3. Represents shares withheld to satisfy tax withholding obligations upon the vesting of the shares of deferred stock awarded to the reporting person.
4. 4. These securities are performance stock units representing a contingent right to receive one share of Turtle Beach Corporation common stock.
5. 5. Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2021 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024, subject to continued employment through such date.
6. 6. Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2022 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024, subject to continued employment through such date. Vested shares for this grant have been rounded to the nearest whole share upon conversion into common stock on a one-for-one basis.
7. 8. The securities are restricted stock units representing a contingent right to receive one share of Turtle Beach Corporation common stock or, cash with a value equal to the fair market value of the underlying common stock or, a combination thereof.
8. 9. These restricted stock units vested in full on April 1, 2024.
9. 10. These restricted stock units vest in equal annual installments until April 1, 2025.
10. 13. One-quarter of these restricted stock units will vest on April 1, 2025, with the remainder of the restricted stock units vesting in equal annual installments until April 1, 2028.
11. 14. These options were exercisable as of the transaction date.

Transaction codes in this filing

Exercise or conversion of a derivative:

Code M marks the exercise or conversion of an option or other derivative under an exempt plan.

Shares withheld for taxes or exercise price:

Code F marks shares handed back or withheld to pay taxes or an exercise price. No sale happens in the market.

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