Karat Packaging Inc. — Director's Dealing 2021

Oct 25, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Karat Packaging Inc. (KRT)
CIK: 0001758021
Period of Report: 2021-10-25

Reporting Person: Wang Joanne Tzu Jung (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-10-25	Common Stock	M	25000	—	Acquired	25700	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-10-25	Restricted Stock Units	$	M	25000	Disposed		Common Stock (25000)	Direct

Footnotes

F1: Represents shares of Karat Packaging Inc.'s (the "Company") Common Stock received upon the vesting of Restricted Stock Units ("RSUs").

F2: RSUs convert into Common Stock on a one-for-one basis.

F3: In February 2019, Joanne Wang was granted 75,000 RSUs. These RSUs were scheduled to vest in three equal installments beginning on, April 15, 2022, the first anniversary of the closing of the Company's initial public offering. On September 20, 2021, the Compensation Committee of the Board of Directors of the Company approved the accelerated vesting of these RSUs to vest in three equal installments on October 15, 2021, October 15, 2022 and October 15, 2023. The 25,0000 shares underlying the first tranche of RSUs vested on October 15, 2021 and settled on October 25, 2021.