WEST MARINE INC 4
4 · WEST MARINE INC · Filed Mar 6, 2017
Insider Transaction Report
Form 4
WEST MARINE INCWMAR
Hyde Matthew L
DirectorChief Executive Officer
Transactions
- Tax Payment
Common Stock
2017-03-02$9.10/sh−3,402$30,958→ 140,096 total - Award
Common Stock
2017-03-02$9.10/sh+3,062$27,864→ 143,498 total - Tax Payment
Common Stock
2017-03-02$9.10/sh−1,160$10,556→ 138,936 total - Tax Payment
Common Stock
2017-03-03$9.12/sh−3,035$27,679→ 135,901 total
Footnotes (6)
- [F1]Performance-based restricted stock units ("PVUs") awarded on March 2, 2015 were subject to the achievement of a certain pre-established metric 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 performance metric and determined the number of PVUs that were earned. The PVUs vest over a three-year period, with 33% which vested on the first anniversary of the grant date, another 33% vested 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. Upon vesting, each PVU has the same terms as the time-vested restricted stock unit ("RSU"), as described and included in footnote 2, except that the initial RSU vesting of 33% occurs upon initial vesting of the PVU.
- [F2]Includes 52,762 unvested 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 8,800 RSUs on March 2, 2017.
- [F4]Shares withheld to cover the income taxes related to the vesting of 3,062 PVUs on March 2, 2017.
- [F5]Shares withheld to cover income taxes related to the vesting of 9,067 RSUs on March 3, 2017.
- [F6]Does not include 126,667 exercisable stock options or 3,155 unvested PVUs.