X0508 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 Common Stock 2024-04-01 4 M 0 4000 A 17824 D Common Stock 2024-04-01 4 M 0 4666 A 22490 D Common Stock 2024-04-01 4 M 0 5868 A 28358 D Common Stock 2024-04-01 4 M 0 6875 A 35233 D Common Stock 2024-04-01 4 M 0 4500 A 39733 D Common Stock 2024-04-01 4 M 0 5250 A 44983 D Common Stock 2024-04-01 4 M 0 7000 A 51983 D Common Stock 2024-04-01 4 F 0 19335 17.17 D 32648 D Performance Stock Units 2024-04-01 4 M 0 4000 0 D Common stock 4000 0 D Performance Stock Units 2024-04-01 4 M 0 4666 0 D Common stock 4666 0 D Performance Stock Units 2024-04-01 4 M 0 5868 0 D Common stock 5868 0 D Restricted Stock Units 2024-04-01 4 M 0 6875 0 D Common stock 6875 0 D Restricted Stock Units 2024-04-01 4 M 0 4500 0 D Common stock 4500 4500 D Restricted Stock Units 2024-04-01 4 M 0 5250 0 D Common stock 5250 10500 D Restricted Stock Units 2024-04-01 4 M 0 7000 0 D Common stock 7000 21000 D Restricted Stock Units 2024-04-01 4 A 0 26208 0 A Common stock 26208 26208 D Stock Option (Right to Buy) 12.1 2029-04-01 Common stock 19167 19167 D Stock Option (Right to Buy) 5.95 2030-04-01 Common stock 12605 12605 D 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