CARRIAGE SERVICES INC — Director's Dealing 2021

Aug 10, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARRIAGE SERVICES INC (CSV)
CIK: 0001016281
Period of Report: 2021-08-06

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-08-06	Common Stock	M	18832	$22.58	Acquired	44156	Direct
2021-08-06	Common Stock	F	13687	$37.06	Disposed	30469	Direct
2021-08-06	Common Stock	S	5119	$37.05	Disposed	25350	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-08-06	Stock Options	$22.58	M	18832	Disposed	2022-02-24	Common Stock (18832.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6029	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$34.79	2031-02-17	Common Stock (50000.0)	50000	Direct
Performance Award	$	2024-12-31	Common Stock (13974.0)	13974	Direct
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

Footnotes

F1: Represents shares withheld on 8/6/2021 to cover the option price and taxes associated with the exercise of stock options.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $36.94 to $37.33, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, on request, full information regarding the number of shares sold at each separate price.

F3: Stock Options pursuant to the Carriage Services, Inc. Amended and Restated 2006 Long-Term Incentive Plan. 38,000 options were granted on 2/24/2015 and 19,168 were previously exercised. The stock options were to expire on 2/24/2022.

F4: Stock Options granted on 2/17/2021 pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan that will vest in equal 20% increments each year over the next five years. These stock options expire on 2/17/2031.

F5: 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.

F6: Stock Options granted pursuant to Carriage Services, Inc. 2017 Omnibus Plan which vested 1/5 on 2/14/2019, 2/24/2020 and 2/14/2021 and will vest 1/5 on 2/14/2022 and 2/14/2023. These stock options will expire on 2/14/2028.

F7: 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, 3/21/2020 and 3/21/2021 and 1/5 will vest on 3/21/2022. These stock options expire on 3/21/2027.

F8: 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, 2/23/2020 and 2/23/2021. These stock options expire on 2/23/2026.