4//SEC Filing
WEST MARINE INC 4
Accession 0000912833-17-000028
CIK 0000912833operating
Filed
Jun 4, 8:00 PM ET
Accepted
Jun 5, 4:51 PM ET
Size
14.2 KB
Accession
0000912833-17-000028
Insider Transaction Report
Form 4
WEST MARINE INCWMAR
Hyde Matthew L
DirectorChief Executive Officer
Transactions
- Award
Common Stock
2017-03-14$9.25/sh+5,256$48,618→ 184,616 total - Award
Common Stock
2017-03-14+43,459→ 179,360 total - Tax Payment
Common Stock
2017-03-14$9.25/sh−1,753$16,215→ 182,863 total - Tax Payment
Common Stock
2017-03-14$9.25/sh−4,806$44,456→ 178,057 total
Footnotes (6)
- [F1]This award of restricted stock units ("RSUs") vests in three annual installments of 33%, 33% and 34% on March 14, 2018, 2019 and 2020, respectively.
- [F2]This award of RSUs was issued pursuant to the terms of the West Marine, Inc. Omnibus Equity Incentive Plan, as amended and restated. Each RSU represents a contingent right to receive one share of common stock upon vesting.
- [F3]Performance-based restricted stock units ("PVUs") awarded on March 14, 2016 were subject to the achievement of a certain pre-established metric over the one-year performance period ending at the end of fiscal 2016. 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, of which 33% vested on the first anniversary (March 14, 2017), 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. Upon vesting, each PVU has the same terms as the RSUs, as described and included in footnote 1.
- [F4]Shares withheld to cover the income taxes related to the vesting of 5,256 PVUs on March 14, 2017.
- [F5]Shares withheld to cover the income taxes related to the vesting of 14,419 RSUs on March 14, 2017. These RSUs were awarded on March 14, 2016 and the remaining 29,276 RSUs vest 33% and 34% on March 14, 2018 and 2019, respectively.
- [F6]Includes 81,802 unvested RSUs. Does not include 126,667 exercisable stock options or 13,825 unvested PVUs.
Issuer
WEST MARINE INC
CIK 0000912833
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000912833
Filing Metadata
- Form type
- 4
- Filed
- Jun 4, 8:00 PM ET
- Accepted
- Jun 5, 4:51 PM ET
- Size
- 14.2 KB