Sec Form 4 Filing - SNYDER STEPHEN ANDREW @ MTBC, Inc. - 2021-01-29

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
SNYDER STEPHEN ANDREW
2. Issuer Name and Ticker or Trading Symbol
MTBC, Inc. [ MTBC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Chief Executive Officer
(Last) (First) (Middle)
7 CLYDE ROAD
3. Date of Earliest Transaction (MM/DD/YY)
01/29/2021
(Street)
SOMERSET, NJ08873
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
Series A Cum Redeemable Perp Preferred Stock [MTBCP] 01/29/2021 M 12,000 A $ 0 ( 1 ) 24,960 D
Series A Cum Redeemable Perp Preferred Stock [MTBCP] 01/29/2021 F( 3 ) 5,520 D $ 26.24 19,440 D
Common Stock 02/02/2021 M 7,500 A $ 0 ( 2 ) 225,945 D
Common Stock 02/02/2021 F( 4 ) 3,450 D $ 10.78 222,495 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 Unit $ 0 ( 1 ) 01/29/2021 M 12,000 ( 1 ) ( 1 ) Series A Cumulative Redeemable Perpetual Preferred Stock 12,000 $ 0 ( 1 ) 0 D
Restricted Stock Unit $ 0 ( 2 ) 02/02/2021 M 7,500 ( 2 ) ( 2 ) Common Stock 7,500 $ 0 ( 2 ) 7,500 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SNYDER STEPHEN ANDREW
7 CLYDE ROAD
SOMERSET, NJ08873
X Chief Executive Officer
Signatures
/s/ Norman Roth, Attorney-in Fact for Stephen Andrew Snyder 02/02/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Represents the conversion upon vesting of restricted stock units into shares of preferred stock on January 29, 2021. These shares of preferred stock issued upon vesting of such units were acquired under the Company's Amended and Restated Equity Incentive Plan without payment by the requesting person.
( 2 )Represents the conversion upon vesting of restricted stock units into common stock on February 2, 2021. These restricted stock units and the shares of common stock issued upon vesting of such units were acquired under the Company's Amended and Restated Equity Incentive Plan, without payment by the reporting person. The remainder of the restricted stock units vests in August 2021.
( 3 )Shares withheld by the issuer to satisfy the mandatory tax withholding requirement upon awarding of Preferred Stock. This is not an open market sale of securities.
( 4 )Shares withheld by the issuer to satisfy the mandatory tax withholding requirement upon awarding of the common stock. This is not an open market sale of securities.

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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