1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Stock Option (Right to Buy)
|
11/13/2018(3)
|
11/13/2024 |
Common Stock
|
507,101
|
$
10.04
|
D
|
Â
|
Stock Option (Right to Buy)
|
11/13/2020(4)
|
11/13/2024 |
Common Stock
|
1,000,000
|
$
10.04
|
D
|
Â
|
* |
If the form is filed by more than one reporting person, see Instruction 5(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). |
(1) |
Shares of restricted stock. One-third of the shares vest on each of November 13, 2018, 2019 and 2020. |
(2) |
Represents target number of performance shares. The actual number of the shares subject to be issued, which could range from 0 to two times the initial target amount, will depend upon whether the issuer has met certain performance metrics for 2018 and 2019. One-half of the shares, if any, will be issued on or about March 2019 based on the issuer's performance for 2018 and the remaining one-half of the shares, if any, will be issued on or about March 2020 based on the issuer's performance for 2019. The Reporting Person will be entitled to sell the shares upon issuance provided the Reporting Person is continuously employed by the Company through the date of issuance. |
(3) |
The option shall become exerciseable with respect to the first 25 percent of the shares subject to the option when the Reporting Person completes 12 months of continuous service after November 13, 2017. The option shall become exerciseable with respect to an additional 1/48th of the shares subject to the option when the Reporting Person completes each month of continuous service thereafter. |
(4) |
The option shall become exerciseable with respect to the shares subject to the option when the Reporting Person completes three years of continuous service after November 13, 2017. |