0000894579-24-000172.txt : 20240403
0000894579-24-000172.hdr.sgml : 20240403
20240403163020
ACCESSION NUMBER: 0000894579-24-000172
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240401
FILED AS OF DATE: 20240403
DATE AS OF CHANGE: 20240403
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Keirn Cris
CENTRAL INDEX KEY: 0001984120
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35465
FILM NUMBER: 24819217
MAIL ADDRESS:
STREET 1: C/O TURTLE BEACH CORP
STREET 2: 44 SOUTH BROADWAY, 4TH FLOOR
CITY: WHITE PLAINS
STATE: NY
ZIP: 10601
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
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4
2024-04-01
0001493761
Turtle Beach Corp
HEAR
0001984120
Keirn Cris
C/O TURTLE BEACH CORPORATION
44 SOUTH BROADWAY, 4TH FLOOR
WHITE PLAINS
NY
10601
true
true
CEO
false
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Stock Option (Right to Buy)
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Performance stock units were converted into common stock on a one-for-one basis.
Restricted stock units were converted into common stock on a one-for-one basis.
Represents shares withheld to satisfy tax withholding obligations upon the vesting of the shares of deferred stock awarded to the reporting person.
These 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. Vested shares for this grant have been rounded to the nearest whole share upon conversion into common stock on a one-for-one basis.
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 vested in full on 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.
These restricted stock units vest in equal annual installments until April 1, 2027.
One-quarter of these restricted stock units will vest on April 1, 2025, with the remainder of the restricted stock units vesting in equal annual installments until April 1, 2028.
These options were exercisable as of the transaction date.
/s/ John T. Hanson, attorney-in-fact for Cris Keirn
2024-04-03