Sec Form 4 Filing - Fishbach Steven G @ TPI COMPOSITES, INC - 2020-12-31

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Fishbach Steven G
2. Issuer Name and Ticker or Trading Symbol
TPI COMPOSITES, INC [ TPIC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
General Counsel and Secretary
(Last) (First) (Middle)
8501 NORTH SCOTTSDALE ROAD,, GAINEY CENTER II, SUITE 100
3. Date of Earliest Transaction (MM/DD/YY)
12/31/2020
(Street)
SCOTTSDALE, AZ85253
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/31/2020 M 12,769 A $ 0 19,213 ( 1 ) D
Common Stock 12/31/2020 F 5,370 ( 2 ) D $ 52.78 13,843 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units ( 3 ) 12/31/2020 M 12,769 ( 4 ) ( 3 )( 4 ) Common Stock 12,769 $ 0 0 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Fishbach Steven G
8501 NORTH SCOTTSDALE ROAD,
GAINEY CENTER II, SUITE 100
SCOTTSDALE, AZ85253
General Counsel and Secretary
Signatures
/s/ Steven G. Fishbach 01/05/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Since the date of the reporting person's last ownership report, the reporting person transferred 4,918 shares of TPIC common stock to his ex-wife pursuant to a domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by his ex-wife.
( 2 )Represents the shares required to satisfy tax withholding obligations in connection with the vesting of 12,769 performance based restricted stock units ("Performance Based RSUs").
( 3 )The Performance Based RSUs vested in full on December 31, 2020. The reporting person was eligible to receive 100% of the Performance Based RSUs if (i) the Issuer's 30 day, volume weighted average stock price exceeded the following stock price hurdles: $28, $33 and $38; and (ii) the reporting person provided continuous service to the Issuer, during the applicable performance period of the underlying award (March 14, 2018 to December 31, 2020).
( 4 )Each RSU represents a contingent right to receive one share of the common stock. All unvested RSUs will automatically expire upon Reporting Person's termination of service from Issuer.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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