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4//SEC Filing

WESTMORELAND COAL Co 4

Accession 0000106455-17-000050

CIK 0000106455operating
View on SEC.govCompany Profile

Filed

Jun 26, 8:00 PM ET

Accepted

Jun 27, 8:08 PM ET

Size

10.9 KB

Accession

0000106455-17-000050

Insider Transaction Report

Form 4
Period: 2017-06-23
WESTMORELAND COAL CoWLB
Micheletti Joseph Earl
SVP - Coal Operations
Transactions
  • Award

    Performance Based Restricted Stock Units

    2017-06-23+26,421→ 26,421 total
    From: 2020-04-01Exp: 2020-04-01→ Common Stock (26,421 underlying)
  • Award

    Restricted Stock Units

    2017-06-23+15,853→ 15,853 total
    From: 2018-04-01→ Common Stock (15,853 underlying)
  • Award

    Cash Units

    2017-06-23+10,568→ 10,568 total
    From: 2018-04-01→ Common Stock (10,568 underlying)
Footnotes (4)
  • [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 ("PBRSU") represents a contingent right to receive up to 1 .5 shares of common stock or the economic equivalent thereof. Units vest over three years and may become payable on April 1, 2020; achievement is 25% weighted based on a comparison of the company's relative total shareholder return ("TSR") over the performance 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 TSR over the performance period to a weighted TSR 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 the Company's consolidated enterprise. For achievement between 100% and 150% of target performance, the PBRSU will be settled solely in cash.
  • [F4]Each Cash Unit is settled solely in cash upon vesting and represents the economic equivalent of one share of the Issuer's common stock. These Cash Units vest in three equal installments on April 1, 2018, 2019 and 2020.

Documents

1 file

Issuer

WESTMORELAND COAL Co

CIK 0000106455

→
Entity typeoperating
IncorporatedDE

Related Parties

1
  • filerCIK 0000106455

Filing Metadata

Form type
4
Filed
Jun 26, 8:00 PM ET
Accepted
Jun 27, 8:08 PM ET
Size
10.9 KB
View on SEC.gov