PURLEE LARRY 4
4 · LAYNE CHRISTENSEN CO · Filed Apr 13, 2018
Insider Transaction Report
Form 4
PURLEE LARRY
Other
Transactions
- Award
Performance Shares
2015-04-10+43,986→ 43,986 total→ Common Stock (43,986 underlying) - Exercise/Conversion
Common Stock
2017-05-01+1,798→ 8,944 total - Award
Performance Shares
2017-04-03+35,224→ 35,224 total→ Common Stock (35,224 underlying) - Exercise/Conversion
Restricted Stock Units
2017-05-01−1,798→ 0 total→ Common Stock (1,798 underlying) - Tax Payment
Common Stock
2015-05-01$6.72/sh−2,695$18,110→ 7,146 total - Exercise/Conversion
Restricted Stock Units
2015-05-01−8,450→ 0 total→ Common Stock (8,450 underlying) - Award
Performance Shares
2016-04-01+19,210→ 19,210 total→ Common Stock (19,210 underlying) - Exercise/Conversion
Common Stock
2015-05-01+8,450→ 9,841 total - Tax Payment
Common Stock
2017-05-01$7.97/sh−572$4,559→ 8,372 total - Award
Restricted Stock Units
2014-05-01+8,450→ 8,450 total→ Common Stock (8,450 underlying)
Footnotes (6)
- [F1]Each restricted stock unit and performance share represents a contingent right to receive one share of Layne common stock.
- [F2]The restricted stock units vest on the earlier of (i) the reporting person's retirement after the age of 60 and five years or more of employment with the company, or (ii) May 1, 2015, provided the reporting person remains employed by the company until such date.
- [F3]The performance shares will vest in one-third increments upon the achievement of a price of $7.88 $9.19 and $10.50 for Layne common stock. For vesting to occur, the stock price must remain at or above the specified price for at least thirty (30) consecutive trading days during the three-year period beginning on April 10, 2015, and ending on April 10, 2018. Mr. Purlee must also remain employed by Layne during the three-year period.
- [F4]The performance shares will vest in one-third increments upon the achievement of a price of $10.56, $12.32, and $14.08 for Layne common stock. For vesting to occur, the stock price must remain at or above the specified price for at least thirty (30) consecutive trading days during the three-year period beginning on April 1, 2016 and ending on April 1, 2019. Mr. Purlee must also remain employed by Layne during the three-year period.
- [F5]The performance shares will vest in one-third increments upon the achievement of a price of $11.19, $12.81 and $14.59 for Layne common stock. For vesting to occur, the stock price must remain at or above the specified price for at least thirty (30) consecutive trading days during the three-year period beginning on April 3, 2017 and ending on April 3, 2020. Mr. Purlee must also remain employed by Layne during the three-year period.
- [F6]The restricted stock units vest on the earlier of (i) the reporting person's retirement after the age of 60 and five years or more of employment with the company, or (ii) May 1, 2017, provided the reporting person remains employed by the company until such date.