UNIVERSAL TECHNICAL INSTITUTE INC — Director's Dealing 2019

Dec 10, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNIVERSAL TECHNICAL INSTITUTE INC (UTI)
CIK: 0001261654
Period of Report: 2019-12-09

Reporting Person: Grant Jerome Alan (Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-12-09	Common Stock, $0.0001 par value	M	27738	—	Acquired	68115	Direct
2019-12-09	Common Stock, $0.0001 par value	F	6216	$7.31	Disposed	61899	Direct
2019-12-09	Performance Cash	M	56250	$0.00	Acquired	61899	Direct
2019-12-09	Performance Cash	D	56250	$0.00	Disposed	61899	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-12-09	Performance Units	$	M	27738	Disposed	2019-12-05	Common Stock (27738)	Direct
2019-12-09	Performance Cash	$	M		Disposed	2019-12-05	Cash ()	Direct

Footnotes

F1: Each performance unit represents a contingent right to receive one share of the Company's common stock, which vests based on the 2-year compound annual total shareholder return ("TSR"). For purposes of determining the TSR, the change in the price of the Company's common stock is based upon the 30-trading day average closing stock price (i) immediately preceding the grant date at the beginning of the performance period, and (ii) immediately preceding the second anniversary of the grant date at the end of the performance period. The number of shares delivered is equal to the maximum number of shares that may be delivered pursuant to the award.

F2: Vesting of Restricted Stock Units granted on 12/5/2017. Shares withheld to satisfy tax liability.

F3: Represents a contingent right to receive cash, which vests based on the 2-year compound annual TSR. For purposes of determining the TSR, the change in the price of the Company's common stock is based upon the 30-trading day average closing stock price (i) immediately preceding the grant date at the beginning of the performance period, and (ii) immediately preceding the second anniversary of the grant date at the end of the performance period. The amount delivered is equal to the maximum amount of cash that may be delivered pursuant to the award.

F4: Performance Cash is settled solely in cash upon vesting. Therefore, the amount of securities beneficially owned following the reported transaction did not change.