Whiteley Brent 4
4 · SAExploration Holdings, Inc. · Filed Aug 8, 2018
Insider Transaction Report
Form 4
Whiteley Brent
DirectorCFO, Gen. Counsel, SecretaryOther
Transactions
- Exercise/Conversion
Common Stock
2018-08-06+1,165,123→ 1,270,679 total - Exercise/Conversion
Restricted Stock Units
2018-08-06−1,165,123→ 1,165,122 total→ Common Stock (1,165,123 underlying) - Tax Payment
Common Stock
2018-08-06$0.85/sh−281,864$239,584→ 988,815 total
Footnotes (2)
- [F1]The Restricted Stock Units ("RSUs") were issued pursuant to the SAExploration Holdings, Inc. (the "Company") 2018 Long Term Incentive Plan (the "2018 Plan") on April 9, 2018. Pursuant to the 2018 Plan, the RSUs vest in three tranches as follows: (i) 25% on the 18-month anniversary of the consummation of the Restructuring, or July 29, 2019; (ii) 25% on the second anniversary of the consummation of the Restructuring, or January 29, 2020; and (iii) the remaining 50% on the third anniversary of the consummation of the Restructuring, or January 29, 2021. RSUs convert into share of Common Stock on a one-for-one basis.
- [F2]The Board of Directors of the Company approved the accelerated vesting of the first two tranches of the RSUs effective July 23, 2018. The RSUs were automatically converted into shares of Common Stock on August 6, 2018.