WEST MARINE INC 4
4 · WEST MARINE INC · Filed Sep 19, 2016
Insider Transaction Report
Form 4
WEST MARINE INCWMAR
Rutenis Paul
EVP - Merchandising
Transactions
- Tax Payment
Common Stock
2016-09-15$8.98/sh−411$3,691→ 36,518 total - Award
Common Stock
2016-09-15$8.98/sh+1,264$11,351→ 39,285 total - Tax Payment
Common Stock
2016-09-15$8.98/sh−2,356$21,157→ 36,929 total
Footnotes (5)
- [F1]Performance-based restricted stock units ("PVUs") granted on September 15, 2015 were subject to achievement of a pre-established performance goal over the one-year performance period ending at the end of fiscal 2015. The Compensation and Leadership Development Committee of the Issuer's Board of Directors certified the Issuer's achievement of the performance goal and determined the number of PVUs that were earned. The PVUs vest over a three-year period, with 33% vesting on the first anniversary of the grant date, another 33% vesting on the second anniversary of the grant date, and 34% vesting on the third anniversary of the grant date, in each case subject to the continued employment with the Issuer.
- [F2]Includes 30,761 unvested time-vested restricted stock units ("RSUs"). RSUs represent the right to receive one share of common stock for each RSU upon vesting. RSUs vest over a three-year period, with 33% vesting on the first anniversary of the grant date, another 33% vesting on the second anniversary of the grant date, and 34% vesting on the third anniversary of the grant date, subject to continued employment with the Issuer.
- [F3]Shares withheld to cover income taxes related to the vesting of 7,260 RSUs on September 15, 2016.
- [F4]Shares withheld to cover income taxes related to the vesting of 1,264 PVUs on September 15, 2016.
- [F5]Does not include unvested PVUs.