Sec Form 4 Filing - HAJOST MICHAEL A @ Danimer Scientific, Inc. - 2022-03-31

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
HAJOST MICHAEL A
2. Issuer Name and Ticker or Trading Symbol
Danimer Scientific, Inc. [ DNMR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Chief Financial Officer
(Last) (First) (Middle)
C/O DANIMER SCIENTIFIC, INC., 140 INDUSTRIAL BOULEVARD
3. Date of Earliest Transaction (MM/DD/YY)
03/31/2022
(Street)
BAINBRIDGE, GA39817
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
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
Performance Stock Award $ 0 03/31/2022 A 50,251 ( 1 )( 2 )( 3 )( 4 )( 5 )( 6 ) ( 7 ) Class A Common Stock ("Common Stock") 50,251 $ 0 50,251 D
RSU Award $ 0 03/31/2022 A 38,659 ( 8 ) ( 8 ) Common Stock 38,659 $ 0 38,659 D
RSU Award $ 0 03/31/2022 A 103,092 ( 9 ) ( 9 ) Common Stock 103,092 $ 0 103,092 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
HAJOST MICHAEL A
C/O DANIMER SCIENTIFIC, INC.
140 INDUSTRIAL BOULEVARD
BAINBRIDGE, GA39817
Chief Financial Officer
Signatures
/s/ Michael A Hajost 04/04/2022
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Comprised of a performance stock award (the "PSA") granted under the Danimer Scientific, Inc. 2020 Long-Term Incentive Plan (the "Plan") consisting of 50,251 performance shares of the Common Stock (the "Performance Shares").
( 2 )Under the PSA, the Performance Shares will be issued only if (A) to the extent necessary, after the approval by the shareholders of the Issuer of an amendment to the Plan to increase the number of shares available under the Plan in an amount sufficient to permit the vesting and issuance of the Performance Shares in accordance with the PSA, and (B) they have vested in accordance with the following vesting criteria:
( 3 )(continuation of footnote 2) (i) 30% of the Performance Shares (the "Total PHA Revenue Metric Shares") will be subject to vesting upon achievement of the Total PHA Revenue metric as follows: the threshold for vesting the Total PHA Revenue Metric Shares will be the Issuer achieving Total PHA Revenue of at least $151 million, in which event 50% of the Total PHA Revenue Metric Shares will vest, and upon the Issuer achieving Total PHA Revenue of $189 million, 100% of the Total PHA Revenue Metric Shares will vest, with pro rata vesting of the Total PHA Revenue Metric Shares for any amount of Total PHA Revenue in between such ranges; (ii) 30% of the Performance Shares (the "Adjusted EBITDA Metric Shares") will be subject to vesting upon achievement of the earnings before interest, taxes, depreciation and amortization, including all adjustments made for reporting this metric in public filings ("Adjusted EBITDA") metric as follows:
( 4 )(continuation of footnote 3) the threshold for vesting the Adjusted EBITDA Metric Shares will be the Issuer achieving Adjusted EBITDA of at least $9.2 million, in which event 50% of the Adjusted EBITDA Metric Shares will vest, and upon the Issuer achieving $13.8 million of Adjusted EBITDA, 100% of the Adjusted EBITDA Metric Shares will vest, with pro rata vesting of the Adjusted EBITDA Metric Shares for any amount of Adjusted EBITDA in between such ranges; and (iii) 40% of the Performance Shares (the "Neat Capacity Metric Shares") will be subject to vesting upon achievement of the nameplate capacity for neat PHA production ("Neat Capacity") metric as follows:
( 5 )(continuation of footnote 4) the threshold for vesting the Neat Capacity Metric Shares will be the Issuer achieving a Neat Capacity of at least 68 million pounds, in which event 50% of the Neat Capacity Metric Shares will vest, and upon the Issuer achieving 81 million pounds of Neat Capacity, 100% of the Neat Capacity Shares will vest, with pro rata vesting of the Neat Capacity Metric Shares for any amount of Neat Capacity in between such ranges.
( 6 )Total PHA Revenue will mean the Total PHA Revenue for the Issuer based on the Company's audited consolidated financial statements for the fiscal year ended December 31, 2024. Adjusted EBITDA will be determined based on the Issuer's consolidated financial statements for the period in question. The vesting of the Adjusted EBITDA Metric Shares will be measured based on the Issuer's audited consolidated financial statements for the fiscal year ended December 31, 2024. Neat Capacity will be determined based upon a third-party certification of the ability of the Issuer to produce the quantities of neat PHA set forth above based on its facilities, and not necessarily actual production of such quantities. The vesting of the Neat Capacity Metric Shares will be measured as of December 31, 2024.
( 7 )The earlier of March 31, 2025 or the Reporting Person's Termination Date (as defined in the Plan).
( 8 )Comprised of an award of restricted units (a "RSU Award") granted under the Plan, consisting of 38,659 restricted stock units, with each unit representing the right to receive one share of Common Stock (the "RSUs"). All of these RSUs will vest and become non-forfeitable on February 7, 2023. Upon or promptly following vesting of any RSUs, a number of shares of Common Stock equal to the number of RSUs that become vested and nonforfeitable on that vesting date will be delivered to the Reporting Person.
( 9 )Comprised of a RSU Award granted under the Plan, consisting of 103,092 RSUs. 34,364 RSUs will vest and become non-forfeitable on each of February 7, 2023, February 7, 2024, and February 7, 2025. Upon or promptly following vesting of any RSUs, a number of shares of Common Stock equal to the number of RSUs that become vested and nonforfeitable on that vesting date will be delivered to the Reporting Person.

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