Avalara (AVLR) executive Tennenbaum returned to the company 84,584 shares at $93.50

Insider transactions reported

Ross Tennenbaum (executive at Avalara Inc., AVLR) reported that they returned to the company 84,584 shares at $93.50 on Oct 19, 2022. After these transactions the filing shows 0 shares held directly.

Reporting person

Tennenbaum Ross

Options and other derivatives

Holdings before and after

• Common Stock: 84,584 to 0 direct
• Stock Option (right to buy): 14,741 to 0 direct

Footnotes from the filing

1. 1. Disposed of pursuant to the Agreement and Plan of Merger (the Merger Agreement ), dated as of August 8, 2022, by and among the Issuer, Lava Intermediate, Inc. and Lava Merger Sub, Inc., pursuant to which the outstanding shares of the Issuer's Common Stock (other than certain excluded shares) were converted into the right to receive, without interest, the cash merger consideration of $93.50 per share. Amount includes 66,117 restricted stock units ( RSUs ) held by the Reporting Person whose acquisition was previously reported in Table I that were cancelled and converted into the contingent right to receive, without interest, $93.50 per share subject to such RSUs, less applicable withholding taxes, with payments subject to the same time-vesting terms and conditions applicable to the corresponding RSUs immediately prior to the effective time of the merger.
2. 2. Pursuant to the Merger Agreement, immediately prior to the effective time of the merger, the option was cancelled and converted into the right to receive, without interest, the cash merger consideration of $93.50 for each share subject to the option (whether vested or unvested), less the per share exercise price and applicable withholding taxes.
3. 3. The option, which originally provided that 25% of the total shares subject to the option vested and became exercisable on March 4, 2020, and 1/48th of the total shares subject to the option vested and became exercisable monthly thereafter, was converted into the right to receive the merger consideration with respect to the entire option as set forth in footnote 2.
4. 5. Each performance share unit ( PSU ) represents the economic equivalent of one share of Issuer Common Stock.
5. 6. Represents PSUs with an initial three-year performance period commencing on January 1, 2021, that were originally scheduled to vest annually over the remaining performance period based on the achievement of certain performance conditions and that were not required to be reported prior to satisfaction of such performance-based vesting conditions. The number reported represents the number of PSUs eligible for cash consideration in the merger, determined in accordance with the Merger Agreement.
6. 7. Pursuant to the Merger Agreement, immediately prior to the effective time of the merger, the PSUs were cancelled and converted into the contingent right to receive, without interest, the cash merger consideration of $93.50 per share subject to the PSUs, less applicable withholding taxes, with payments to be made in accordance with the vesting terms and conditions set forth in the award agreement for the PSUs in the event of a change in control, which award agreement generally provides for quarterly time-vesting over the remaining performance period applicable to the PSUs.
7. 8. Represents PSUs with an initial three-year performance period commencing on January 1, 2022, that were originally scheduled to vest annually over the performance period based on the achievement of certain performance conditions and that were not required to be reported prior to the satisfaction of the performance-based vesting conditions. The number reported represents the number of PSUs eligible for cash consideration in connection with the merger, determined in accordance with the Merger Agreement.

Transaction codes in this filing

Sale back to the company:

Code D marks a disposition back to the company under an exempt plan, as opposed to a sale in the market.

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