Maher Kevin P 4
4 · LAYNE CHRISTENSEN CO · Filed Apr 13, 2018
Insider Transaction Report
Form 4
Maher Kevin P
Division Pres.-Min Ex
Transactions
- Tax Payment
Common Stock
2017-05-01$7.97/sh−480$3,826→ 1,335 total - Exercise/Conversion
Common Stock
2017-05-01+1,815→ 1,815 total - Award
Performance Shares
2015-04-10+44,413→ 44,413 total→ Common Stock (44,413 underlying) - Award
Performance Shares
2016-04-01+27,287→ 27,287 total→ Common Stock (27,287 underlying) - Award
Performance Shares
2017-04-03+21,134→ 21,134 total→ Common Stock (21,134 underlying) - Exercise/Conversion
Restricted Stock Units
2017-05-01−1,815→ 0 total→ Common Stock (1,815 underlying)
Footnotes (5)
- [F1]Each restricted stock unit and performance share represents a contingent right to receive one share of Layne common stock.
- [F2]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. Maher must also remain employed by Layne during the three-year period.
- [F3]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. Maher 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 $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. Maher must also remain employed by Layne during the three-year period.
- [F5]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.