SCHOOL SPECIALTY INC 4
4 · SCHOOL SPECIALTY INC · Filed Mar 25, 2016
Insider Transaction Report
Form 4
BOHR RYAN
Exec. VP and CFO
Transactions
- Award
Restricted Stock Units
2016-03-23+5,750→ 5,750 totalExp: 2019-03-23→ Common Stock (5,750 underlying)
Footnotes (2)
- [F1]The restricted stock units ("RSUs") will vest on the third anniversary of the date of grant based on the 15 day volume weighted average price of the Company's common stock ("15 Day VWAP") on the vesting date. The percentage of RSUs that will vest on the vesting date is as follows: 0% of total RSUs at a 15 day VWAP of less than $108.00; 20% of total RSUs at a 15 Day VWAP of at least $108.00 but less than $118.00; 40% of total RSUs at a 15 day VWAP of at least $118.00 but less than $128.00; 60% of total RSUs at a 15 day VWAP of at least $128.00 but less than $138.00; 80% of total RSUs at a 15 day VWAP of at least $138.00 but less than $148.00; and 100% of total RSUs at a 15 day VWAP of at least $148.00. Any RSUs that vest will be settled in shares of common stock on a 1-for-1 basis.
- [F2]In the event of a change in control prior to the three year anniversary of the date of grant, the RSUs will vest in accordance with the schedule above substituting the change in control price for the 15 Day VWAP.