LANTRONIX INC — Director's Dealing 2021

Sep 15, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LANTRONIX INC (LTRX)
CIK: 0001114925
Period of Report: 2021-09-13

Reporting Person: Pickle Paul H (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-09-13	Common Stock	A	244012	—	Acquired	485451	Direct
2021-09-13	Common Stock	F	96942	$6.24	Disposed	388509	Direct
2021-09-13	Common Stock	A	26666	—	Acquired	415175	Direct
2021-09-13	Common Stock	F	9221	$6.24	Disposed	405954	Direct

Footnotes

F1: On October 18, 2019, the reporting person was granted Restricted Stock Units ("RSUs") with performance-based vesting requirements. One third of the target number of RSUs subject to the award are eligible to vest in each of the three years beginning in fiscal 2020 based on certain earnings per share targets, revenue targets and relative total stockholder return conditions. This transaction reflects the vesting and payment of 244,012 RSUs subject to the award on September 13, 2021 with respect to the performance conditions that were satisfied for fiscal 2021.

F2: In accordance with the terms of the applicable RSU award agreement, 96,942 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.

F3: On November 2, 2020, the reporting person was granted Restricted Stock Units ("RSUs") with performance-based vesting requirements. One third of the target number of RSUs subject to the award are eligible to vest in each of the three years beginning in fiscal 2021 based on certain earnings per share targets and revenue targets. This transaction reflects the vesting and payment of 26,666 RSUs subject to the award on September 13, 2021 with respect to the performance conditions that were satisfied for fiscal 2021.

F4: In accordance with the terms of the applicable RSU award agreement, 9,221 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.