Equity grants and tax withholding for Turtle Beach (NASDAQ: TBCH) counsel
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Turtle Beach Corp General Counsel Megan S. Wynne reported routine equity compensation activity and related tax withholding. On April 1, 2026, performance stock units and restricted stock units converted into common stock on a one-for-one basis, and she received a grant of 22,015 new RSUs.
Following these conversions, 10,997 shares of common stock were withheld at $10.22 per share to cover tax withholding obligations tied to the PSU and RSU vesting. After these transactions, Wynne directly holds 71,490 shares of Turtle Beach common stock, plus vested stock options that remain exercisable at various strike prices.
Positive
- None.
Negative
- None.
Insider Trade Summary
20,600 shares exercised/converted
Mixed
18 txns
Insider
Wynne Megan S.
Role
General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 10,997 | $10.22 | $112K |
| Exercise | Performance Stock Units | 3,478 | $0.00 | -- |
| Exercise | Performance Stock Units | 1,845 | $0.00 | -- |
| Exercise | Restricted Stock Units | 4,500 | $0.00 | -- |
| Exercise | Restricted Stock Units | 6,125 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,747 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,905 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 22,015 | $0.00 | -- |
| Exercise | Common Stock | 3,478 | $0.00 | -- |
| Exercise | Common Stock | 1,845 | $0.00 | -- |
| Exercise | Common Stock | 4,500 | $0.00 | -- |
| Exercise | Common Stock | 6,125 | $0.00 | -- |
| Exercise | Common Stock | 1,747 | $0.00 | -- |
| Exercise | Common Stock | 2,905 | $0.00 | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
Holdings After Transaction:
Common Stock — 71,490 shares (Direct);
Performance Stock Units — 0 shares (Direct);
Restricted Stock Units — 0 shares (Direct);
Stock Option (Right to Buy) — 3,106 shares (Direct)
Footnotes (1)
- Performance stock units ("PSUs") were converted into common stock on a one-for-one basis. Restricted stock units ("RSUs") were converted into common stock on a one-for-one basis. Represents shares withheld to satisfy tax withholding obligations upon the vesting of PSUs and RSUs awarded to the reporting person. These securities are PSUs representing a contingent right to receive one share of Turtle Beach Corporation common stock or, cash with a value equal to the fair market value of the underlying common stock or, a combination thereof. Acquired upon achievement of certain performance criteria pursuant to 34% of the PSUs granted on April 1, 2023 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of such PSUs was determined over a three-year period based on (i) the amount by which revenue growth exceeds a defined baseline market growth each year and (ii) the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year, with the ability to earn and vest into such units ranging from 0% to 200%. These PSUs vested with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2026. These PSUs granted on April 1, 2024 vested in 1,846 shares on April 1, 2025 and 1,845 shares on April 1, 2026 and will vest in 1,902 shares on April 1, 2027. The securities are RSUs representing a contingent right to receive one share of Turtle Beach Corporation common stock or, cash with a value equal to the fair market value of the underlying common stock or, a combination thereof. These RSUs vested in full on April 1, 2026. These RSUs vest in equal annual installments until April 1, 2027. These RSUs vest in equal annual installments until April 1, 2028. These RSUs vest in equal annual installments until April 1, 2029. One-quarter of these RSUs will vest on April 1, 2027, with the remainder of the RSUs vesting in equal annual installments until April 1, 2030. These options were exercisable as of the transaction date.
Key Figures
Tax withholding shares: 10,997 shares
Tax withholding price: $10.22 per share
Common shares held: 71,490 shares
+5 more
8 metrics
Tax withholding shares
10,997 shares
Shares withheld to satisfy tax obligations at $10.22 per share
Tax withholding price
$10.22 per share
Value applied to 10,997 withheld Turtle Beach common shares
Common shares held
71,490 shares
Direct Turtle Beach common stock held after reported transactions
New RSU grant
22,015 RSUs
Restricted stock units granted with contingent right to common stock or cash
Option position 1
3,106 shares at $2.04
Stock option (right to buy) exercisable as of transaction date
Option position 2
4,551 shares at $3.12
Stock option (right to buy) on Turtle Beach common stock
Option position 3
18,209 shares at $12.10
Stock option (right to buy) expiring in 2029
Option position 4
31,875 shares at $5.95
Stock option (right to buy) expiring in 2030
Key Terms
Performance stock units, Restricted stock units, tax withholding obligations, Stock Option (Right to Buy), +1 more
5 terms
Performance stock units financial
"Performance stock units ("PSUs") were converted into common stock on a one-for-one basis."
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
Restricted stock units financial
"Restricted stock units ("RSUs") were converted into common stock on a one-for-one basis."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"Represents shares withheld to satisfy tax withholding obligations upon the vesting of PSUs and RSUs"
Stock Option (Right to Buy) financial
"Stock Option (Right to Buy) ... underlying common stock"
adjusted EBITDA financial
"the achievement of specified tiers of adjusted EBITDA as a percentage of net revenue each year"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
FAQ
What did Turtle Beach (TBCH) General Counsel Megan Wynne report on this Form 4?
Megan Wynne reported routine equity compensation activity, including PSU and RSU vesting and a new RSU grant. She also reported shares withheld to cover taxes, and updated her direct common stock and option holdings with Turtle Beach.
What new equity award did Megan Wynne receive from Turtle Beach (TBCH)?
She received an award of 22,015 restricted stock units. These RSUs represent a contingent right to receive an equivalent number of Turtle Beach common shares or cash equal to their fair market value, subject to the vesting schedule described in the filing footnotes.
What performance conditions applied to Megan Wynne’s Turtle Beach (TBCH) PSUs?
Certain performance stock units vested based on revenue growth above a defined market baseline and specified tiers of adjusted EBITDA as a percentage of net revenue. Vesting outcomes could range from 0% to 200% of the original PSU grant, determined over a three-year period.
What stock options does Megan Wynne still hold in Turtle Beach (TBCH)?
She holds several stock option positions, including options over 3,106 shares at $2.04, 4,551 shares at $3.12, 18,209 shares at $12.10, and 31,875 shares at $5.95. These options relate to Turtle Beach common stock and have future expiration dates.