SEC FORM 4

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^*

Smith Lori B

(Last)

(First)

(Middle)

4225 E. WINDROSE DRIVE

SUITE 200

(Street)

PHOENIX

85032

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
UNIVERSAL TECHNICAL INSTITUTE INC [ UTI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/08/2023

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $0.0001 par value	12/08/2023		M		4,698	A	⁽¹⁾	42,672	D
Common Stock, $0.0001 par value	12/08/2023		F		1,309	D	$11.88⁽²⁾	41,363	D
Common Stock, $0.0001 par value	12/08/2023		M		6,374	A	⁽¹⁾	47,737	D
Common Stock, $0.0001 par value	12/08/2023		F		1,776	D	$11.88⁽³⁾	45,961	D
Common Stock, $0.0001 par value	12/10/2023		M		4,646	A	⁽¹⁾	50,607	D
Common Stock, $0.0001 par value	12/10/2023		F		1,294	D	$11.88⁽⁴⁾	49,313	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	12/08/2023		M			4,698	⁽⁵⁾	12/08/2024⁽⁵⁾	Common Stock, $0.0001 par value	4,698	$0	4,698	D
Restricted Stock Units	⁽¹⁾	12/08/2023		M			6,374	⁽⁶⁾	⁽⁶⁾	Common Stock, $0.0001 par value	6,374	$0	19,109	D
Restricted Stock Units	⁽¹⁾	12/08/2023		A		9,488		⁽⁷⁾	⁽⁷⁾	Common Stock, $0.0001 par value	9,488	$0	9,488	D
Performance Units	⁽⁸⁾	12/08/2023		A		17,790		⁽⁸⁾	⁽⁸⁾	Common Stock, $0.0001 par value	17,790	$0	17,790	D
Restricted Stock Units	⁽¹⁾	12/10/2023		M			4,646	⁽⁹⁾	⁽⁹⁾	Common Stock, $0.0001 par value	4,646	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of UTI Common Stock.

2. Shares withheld to satisfy tax liability for the vesting of restricted stock units granted on 12/08/2021.

3. Shares withheld to satisfy tax liability for the vesting of restricted stock units granted on 12/8/2022.

4. Shares withheld to satisfy tax liability for the vesting of restricted stock units granted on 12/10/2020.

5. Vesting of restricted stock units granted on 12/08/2021.

6. Vesting of restricted stock units granted on 12/08/2022.

7. The restricted stock units vest in three equal installments beginning on December 8, 2024.

8. Each performance unit represents a contingent right to receive one share of the UTI Common Stock, 60% of which vest based on revenue for the fiscal year ending September 30, 2026 and 40% of which vest based on adjusted EBITDA for the fiscal year ending September 30, 2026.

9. The restricted stock units vest in three equal annual installments beginning on 12/10/2021.

Remarks:

	/s/ Christopher Kevane, attorney-in-fact for Lori B. Smith	12/12/2023
	** 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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