WESTMORELAND COAL Co 4
4 · WESTMORELAND COAL Co · Filed May 20, 2016
Insider Transaction Report
Form 4
Paprzycki Kevin A
Chief Financial Officer
Transactions
- Award
Restricted Stock Units
2016-05-18+30,000→ 30,000 totalFrom: 2017-04-01→ Common Stock (30,000 underlying) - Award
Performance Based Restricted Stock Units
2016-05-18+50,000→ 50,000 totalFrom: 2019-04-01Exp: 2019-04-01→ Common Stock (75,000 underlying)
Footnotes (3)
- [F1]Each Restricted Stock Unit represents a contingent right to receive one share of common stock payable in common stock, cash or a combination thereof at the discretion of the Compensation and Benefits Committee.
- [F2]The Restricted Stock Units vest in three equal annual installments beginning on April 1st following the grant date.
- [F3]Each Performance Based Restricted Stock Unit represents a contingent right to receive up to 1.5 shares of common stock. The units vest over approximately three years and become payable on April 1, 2019; 25% weighted based on a comparison of the company's relative total shareholder return over the vesting period to a weighted total shareholder return during such period of companies in the Russell 3000 Index; 25% weighted based on a comparison of the company's relative total shareholder return over the vesting period to a weighted total shareholder return during such period of certain companies in the Market Vectors Global Coal Index with principal places of business in the US, Australia or Canada; and 50% weighted based on a three-year free cash flow goal for Westmoreland's consoldated global enterprise.