Eastside Distilling (EAST) insider Block gave up 1,903 shares at $1.81 to cover taxes or an exercise price

Insider transactions reported

Paul Block (insider at Eastside Distilling Inc., EAST) reported that they gave up 1,903 shares at $1.81 to cover taxes or an exercise price on Jan 12, 2022. After these transactions the filing shows 192,370 shares held directly.

Reporting person

Block Paul

Holdings before and after

• Common Stock: 194,273 to 192,370 direct

Footnotes from the filing

1. 1. Represents withholding by the Issuer of common stock to satisfy payment of the reporting person's tax withholding obligations applicable to the vesting of RSUs on December 31, 2021.
2. 2. Pursuant to that certain Executive Employment Agreement between Eastside Distilling, Inc. (the Issuer ) and the reporting person which was executed on July 7, 2020 (the Employment Agreement ), on January 19, 2021, the Compensation Committee of the Issuer's Board of Directors awarded the reporting person $200,000 in value of RSUs, (1/12) of which will be earned and vested on each of March 31, June 30, September 30, and December 31, beginning March 31, 2021 and ending December 31, 2023, if the reporting person remains employed on the applicable quarterly vesting date. As of the reporting date, $66,667 of the RSU has vested and $133,333 remains unvested, with the next tranche scheduled to vest on March 31, 2022 if the reporting person remains employed on that date.
3. 3. Granted under the Issuer's 2016 Equity Incentive Plan and the Employment Agreement.
4. 4. Each RSU represents the right to receive shares of common stock upon settlement for no consideration.

Transaction codes in this filing

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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