Raven Industries (RAVN) Form 4 RAVEN INDUSTRIES / Lee A Magnuson 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^*

Magnuson Lee A

(Last) (First) (Middle)

P.O. BOX 5107

(Street)

SIOUX FALLS SD 57117-5107

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RAVEN INDUSTRIES INC [ RAVN ]

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 VP

3. Date of Earliest Transaction (Month/Day/Year)
04/05/2021

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	04/05/2021		A		1,185(1)	A	$0	2,689	D
Common Stock	04/05/2021		F		338(2)	D	$0	2,351	D
Common Stock	04/05/2021		A		891(3)	A	$0	3,242	D
Common Stock	04/05/2021		F		238(2)	D	$0	3,004	D
Common Stock								28	I	By Spouse

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
Stock Option(4)	$35.05							04/05/2019	04/05/2023	Common Stock	2,030		2,030	D
Restricted Stock Unit - 2018	(5)	04/05/2021		A			1,185	(6)	(6)	Common Stock	1,185	$0	0	D
Restricted Stock Unit - 2019	(5)							(7)	(7)	Common Stock	1,025		1,025	D
Restricted Stock Unit - 2020	(5)							(8)	(8)	Common Stock	2,281		2,281	D
Restricted Stock Unit - 2021	(5)	04/05/2021		A		1,299		(9)	(9)	Common Stock	1,299	$0	1,299	D

Explanation of Responses:

1. Grant of Time-Based Restricted Stock Units which vested on April 5, 2021 and includes 45 dividend equivalent shares earned on those shares.

2. Shares forfeited to satisfy tax withholding requirements.

3. Grant of 891 Performance-based shares which vested on April 5, 2021 and includes 36 dividend equivalent shares earned on those shares.

4. Pursuant to Rule 16b-3(d). Right to buy. All options vest at the rate of 25% annually beginning on the date listed in Exercisable, column 6.

5. Each Time-based Restricted Stock Unit is the economic equivalent of one share of RAVN Common Stock.

6. The Time-based Restricted Stock Units shall become vested on the third anniversary of the effective date April 5, 2018, provided that the Employee remains continuously employed by the Company through the Vesting Date.

7. The Time-based Restricted Stock Units shall become vested on the third anniversary of the effective date April 5, 2019, provided that the Employee remains continuously employed by the Company through the Vesting Date.

8. The Time-based Restricted Stock Units shall become vested on the third anniversary of the effective date April 6, 2020, provided that the Employee remains continuously employed by the Company through the Vesting Date, or meets continued vesting provisions.

9. The Time-based Restricted Stock Units shall become vested on the third anniversary of the effective date April 5, 2021, provided that the Employee remains continuously employed by the Company through the Vesting Date, or meets continued vesting provisions.

Remarks:

	/s/ Lee A. Magnuson	04/06/2021
	** 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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