SolarWinds (SWI) Form 4 SolarWinds / Easwaran Sundaram 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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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^*

Sundaram Easwaran

(Last) (First) (Middle)

7171 SOUTHWEST PARKWAY

BLDG. 400

(Street)

AUSTIN TX 78735

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SolarWinds Corp [ SWI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
05/26/2022

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	05/26/2022		A		17,964(1)	A	$0	49,233(2)(3)(4)	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

Explanation of Responses:

1. Represents restricted stock units awarded pursuant to the annual equity grant under the Issuer's non-employee director compensation policy that entitle the reporting person to receive one share of the issuer's common stock per restricted stock unit upon vesting. The restricted stock units vest 100% on the one-year anniversary of the grant date, subject to continued service through such date.

2. On July 19, 2021, the Issuer announced the completion of the spin-off of its N-able business. In connection with the spin-off, outstanding Issuer restricted stock units were adjusted such that each restricted stock unit award was converted into 1.5744 restricted stock units. The table above reflects the number of restricted stock units, as adjusted for the spin-off.

3. The number of securities beneficially owned has been adjusted to reflect the 1-for-2 reverse stock split effected by the Issuer on July 30, 2021.

4. On July 30, 2021, the Issuer's Board of Directors declared a special cash dividend, payable on August 9, 2021. As a result, pursuant to the anti-dilution provisions of the Issuer's 2018 Equity Incentive Plan, outstanding restricted stock units were adjusted such that each restricted stock unit awarded to the reporting person was converted into 1.0862 restricted stock units. The number of securities beneficially owned has been adjusted to reflect the inclusion of such restricted stock units, as adjusted in connection with the special cash dividend.

Remarks:

	/s/ Jason W. Bliss Attorney-in-Fact for Easwaran Sundaram	05/31/2022
	** Signature of Reporting Person	Date
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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