CARRIAGE SERVICES INC — Director's Dealing 2020

Dec 17, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARRIAGE SERVICES INC (CSV)
CIK: 0001016281
Period of Report: 2020-12-16

Reporting Person: Elliott Paul Donald (Sr. VP and Regional Partner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-16	Common Stock	M	8000	$22.58	Acquired	33474	Direct
2020-12-16	Common Stock	F	6783	$29.77	Disposed	26691	Direct
2020-12-16	Common Stock	S	1217	$29.12	Disposed	25474	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-16	Stock Options	$22.58	M	8000	Disposed	2022-02-24	Common Stock (8000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6029	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$25.43	2028-02-14	Common Stock (16610.0)	16610	Direct
Stock Options	$26.54	2027-03-21	Common Stock (38600.0)	38600	Direct
Stock Options	$20.06	2026-02-23	Common Stock (17300.0)	17300	Direct
Performance Award	$	2024-12-31	Common Stock (13974.0)	13974	Direct

Footnotes

F1: Represents shares withheld on 12/16/2020 to cover the option price and tax liability associated with the exercise of stock options granted on 02/24/2015.

F2: Stock Option grant pursuant to the Carriage Services, Inc. Amended and Restated 2006 Long-Term Incentive Plan which vested 1/3 on 2/24/2016, 2/24/2017 and 2/24/2018. 2,918 shares were exercised on 12/11/2020, 8,250 shares were exercised on 12/14/2020 and 8,000 shares were exercised on 12/16/2020. These stock options expire on 02/24/2022.

F3: Stock Options granted pursuant to Carriage Services, Inc. 2017 Omnibus Plan which 1/5 vested on 2/14/2019 and 2/24/2020 and 1/5 will vest on 2/14/2021, 2/14/2022 and 2/14/2023. The options will expire on 2/14/2028.

F4: Stock Options granted pursuant to the Carriage Services, Inc. Second Amended and Restated 2006 Long-Term Incentive Plan which vested 1/5 on 3/21/2018, 3/21/2019 and 3/21/2020 and 1/5 will vest on 3/21/2021 and 3/21/2022. These stock options expire on 3/21/2027.

F5: Stock Options granted pursuant to the Carriage Services, Inc. Second Amended and Restated 2006 Long-Term Incentive Plan which vested 1/5 on 2/23/2017, 2/23/2018, 2/23/2019 and 2/23/2020 and 1/5 will vest on 2/23/2021. These stock options expire on 2/23/2026.

F6: Represents performance awards, payable in shares on December 31, 2024 granted under the Carriage Services, Inc. 2017 Omnibus Incentive Plan. The award will vest (if at all) on December 31, 2024 provided that the Company's common stock reaches one of five pre-determined growth targets for a sustained period beginning on the grant date of May 19, 2020 and ending on December 31, 2024.