Kussell William A 4
4 · Bojangles', Inc. · Filed Dec 10, 2018
Insider Transaction Report
Form 4
Bojangles', Inc.BOJA
Kussell William A
Director
Transactions
- Tax Payment
Common Stock
2018-12-07$16.10/sh−158,914$2,558,515→ 211,318 total - Exercise/Conversion
Stock Option (right to buy)
2018-12-07−277,178→ 0 totalExercise: $2.03From: 2014-08-18Exp: 2014-08-18→ Common Stock (277,178 underlying) - Exercise/Conversion
Common Stock
2018-12-07$2.03/sh+323,467$656,638→ 370,232 total - Exercise/Conversion
Stock Option (right to buy)
2018-12-07−46,289→ 230,888 totalExercise: $2.03From: 2016-12-06Exp: 2022-04-16→ Common Stock (46,289 underlying)
Footnotes (3)
- [F1]Reflects 158,914 shares withheld by the issuer at the closing market price of $16.10 per share, less an exercise price of $2.03 to fund the cashless exercise of the 323,467 vested options.
- [F2]The time based stock options are fully vested and currently exercisable.
- [F3]Performance based stock options vest on a sliding scale based upon the return on investment of the funds managed by Advent International Corporation (the "Advent Holders") as compared to the Aggregate Advent Investment Amount (i.e., $162,900,210). The 277,177 performance based stock options originally granted to the reporting person will cumulatively vest on the date(s) on which the Advent Holders receive an aggregate amount of net cash proceeds as follows (1) 16.7% for 2 to 2.5 times the Aggregate Advent Investment Amount; (2) 50% for 2.5 to 3 times the Aggregate Advent Investment Amount; (3) 83.3% for 3 to 3.5 times the Aggregate Advent Investment Amount; and (4) 100% for greater than 3.5 times the Aggregate Advent Investment Amount. Currently, 16.7% of the performance based stock options originally granted to the reporting person have vested, all of which were exercised in the transaction reported hereby.