John K. Keppler Form 4 Enviva / John K. Keppler ownership change

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Keppler John K.

(Last) (First) (Middle)

7272 WISCONSIN AVENUE, SUITE 1800

(Street)

BETHESDA MD 20814

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Enviva Inc. [ EVA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chairman and CEO

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2022

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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	11/14/2022		M		144,634	A	(1)	869,175	D
Common Stock	11/14/2022		A(2)		101,695	A	$0	970,870	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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: 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	(1)	11/14/2022		M			23,588	(3)	(3)	Common Stock	23,588	$0	0	D
Restricted Stock Units	(1)	11/14/2022		M			35,168	(4)	(4)	Common Stock	35,168	$0	0	D
Restricted Stock Units	(1)	11/14/2022		M			42,939	(5)	(5)	Common Stock	42.939	$0	0	D
Restricted Stock Units	(1)	11/14/2022		M			42,939	(6)	(6)	Common Stock	42.939	$0	0	D

Explanation of Responses:

1. Restricted stock units convert into shares of common stock on a one-for-one basis.

2. Pursuant to the terms of the reporting persons' employment agreement, upon his termination of employment on November 14, 2022, certain outstanding performance-based restricted stock unit awards that were not derivative securities and were not previously reported on a Form 4 vested and were settled in shares of the Issuer's common stock. These shares of common stock represent the settlement of three separate awards of performance-based restricted stock unit granted on February 1, 2022 (23,588 shares at target performance), January 27, 2021 (35,168 shares at target performance), and January 29, 2020 (42,939 shares at target performance).

3. On February 1, 2022, the reporting person was granted 23,588 restricted stock units vesting in a single installment on February 1, 2026. This vesting of this award accelerated pursuant to the terms of the reporting person's employment agreement upon his termination of employment on November 14, 2022.

4. On January 27, 2021, the reporting person was granted 35,168 restricted stock units vesting in a single installment on January 27, 2025. This vesting of this award accelerated pursuant to the terms of the reporting person's employment agreement upon his termination of employment on November 14, 2022.

5. On January 29, 2020, the reporting person was granted 42,939 restricted stock units vesting in a single installment on January 29, 2024. This vesting of this award accelerated pursuant to the terms of the reporting person's employment agreement upon his termination of employment on November 14, 2022.

6. On January 29, 2020, the reporting person was granted 42,939 restricted stock units vesting in a single installment on January 29, 2023. This vesting of this award accelerated pursuant to the terms of the reporting person's employment agreement upon his termination of employment on November 14, 2022.

	/s/ Jason E. Paral, as attorney-in-fact for John K. Keppler	11/16/2022
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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