0000894579-24-000154.txt : 20240320
0000894579-24-000154.hdr.sgml : 20240320
20240320200314
ACCESSION NUMBER: 0000894579-24-000154
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240318
FILED AS OF DATE: 20240320
DATE AS OF CHANGE: 20240320
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Hanson John T
CENTRAL INDEX KEY: 0001531225
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35465
FILM NUMBER: 24769138
MAIL ADDRESS:
STREET 1: 11011 VIA FRONTERA, SUITE A/B
CITY: SAN DIEGO
STATE: CA
ZIP: 92127
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Turtle Beach Corp
CENTRAL INDEX KEY: 0001493761
STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669]
ORGANIZATION NAME: 04 Manufacturing
IRS NUMBER: 272767540
STATE OF INCORPORATION: NV
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 44 SOUTH BROADWAY
STREET 2: 4TH FLOOR
CITY: WHITE PLAINS
STATE: NY
ZIP: 10601
BUSINESS PHONE: 888-496-8001
MAIL ADDRESS:
STREET 1: 44 SOUTH BROADWAY
STREET 2: 4TH FLOOR
CITY: WHITE PLAINS
STATE: NY
ZIP: 10601
FORMER COMPANY:
FORMER CONFORMED NAME: Parametric Sound Corp
DATE OF NAME CHANGE: 20100609
4
1
form4.xml
X0508
4
2024-03-18
0001493761
Turtle Beach Corp
HEAR
0001531225
Hanson John T
C/O TURTLE BEACH CORPORATION
44 SOUTH BROADWAY, 4TH FLOOR
WHITE PLAINS
NY
10601
true
CFO and Treasurer
false
Common Stock
45804
D
Performance Stock Units
2024-03-18
4
A
0
4000
0
A
Common stock
4000
4000
D
Performance Stock Units
2024-03-18
4
A
0
5333
0
A
Common stock
5333
5333
D
Performance Stock Units
2024-03-18
4
A
0
6602
0
A
Common stock
6602
6602
D
Restricted Stock Units
Common stock
6875
6875
D
Restricted Stock Units
Common stock
4500
9000
D
Restricted Stock Units
Common stock
6000
18000
D
Restricted Stock Units
Common stock
31500
31500
D
Stock Option (Right to Buy)
2.04
2027-11-13
Common stock
2696
2696
D
Stock Option (Right to Buy)
3.12
2028-04-11
Common stock
29391
29391
D
Stock Option (Right to Buy)
12.1
2029-04-01
Common stock
14167
14167
D
Stock Option (Right to Buy)
5.95
2030-04-01
Common stock
33230
33230
D
The securities are performance stock units representing a contingent right to receive one share of Turtle Beach Corporation common stock.
Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2021 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is 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 performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024, subject to continued employment through such date.
Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2022 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is 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 performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024, subject to continued employment through such date.
Acquired upon achievement of certain performance criteria pursuant to one-third of the performance stock units granted April 1, 2023 under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. The vesting of performance stock units is 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 performance stock units will vest with respect to the underlying shares of Turtle Beach Corporation common stock on April 1, 2024, subject to continued employment through such date.
The securities are restricted stock units 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 restricted stock units vest in equal annual installments until April 1, 2024.
These restricted stock units vest in equal annual installments until April 1, 2025.
These restricted stock units vest in equal annual installments until April 1, 2026.
One-quarter of these restricted stock units will vest on April 1, 2024, with the remainder of the restricted stock units vesting in equal annual installments until April 1, 2027.
All options were exercisable as of the transaction date.
These options are scheduled to vest in equal monthly installments until April 1, 2024.
/s/ John T. Hanson
2024-03-20