4//SEC Filing
Lesley Philip Daren 4
Accession 0001073429-21-000187
CIK 0001073429other
Filed
May 16, 8:00 PM ET
Accepted
May 17, 7:07 PM ET
Size
9.9 KB
Accession
0001073429-21-000187
Insider Transaction Report
Form 4
Lesley Philip Daren
VP - USC Aggregates
Transactions
- Exercise/Conversion
Restricted stock units
2021-05-13−3,836→ 9,590 total→ Common stock (3,836 underlying) - Exercise/Conversion
Common stock
2021-05-13+3,836→ 15,792 total - Tax Payment
Common stock
2021-05-13$55.72/sh−1,386$77,228→ 14,406 total
Footnotes (4)
- [F1]Each Restricted Stock Unit was granted from the U.S. Concrete, Inc. Long Term Incentive Plan and represents the right to receive one share of common stock upon vesting, or as set forth in footnote 3, two shares of common stock in the aggregate.
- [F2]The Restricted Stock Units were granted on March 1, 2021 and will vest as follows: (i) 60% of the total number of the awarded shares are Time-Based and will become vested over three years in equal annual installments from the date of grant, and (ii) the remaining 40% of the awarded shares are Performance-Based, half (or 50%) of which achieved their 20-day VWAP performance hurdle of $58.69 per share on March 19, 2021, and the remaining half of which achieved their 20-day VWAP performance hurdle of $63.82 per share on April 1, 2021. Because the March 1, 2021 RSU awards were granted contingent upon the approval by the Company's shareholders of a proposed LTIP amendment to reload shares at its May 13, 2021 Annual Meeting, the earliest date on which these RSUs could vest was May 13, 2021.
- [F3]The Performance-Based portion of the March 1, 2021 Restricted Stock Units would result in vesting into additional shares (effectively making each Performance-Based RSU represent two shares) if the average of the daily VWAP of the Company's stock over any period of 20 consecutive trading days attains (i) $69.23 per share (resulting in the vesting into an additional 1,918 shares) and (ii) $74.95 per share (resulting in the vesting into a further additional 1,918 shares) within the three-year period from the date of grant.
- [F4]The Restricted Stock Units are reported as still existing after vesting because they could, as set forth in footnote 3 above, result in vesting into additional shares.
Documents
Issuer
U.S. CONCRETE, INC.
CIK 0001073429
Entity typeother
Related Parties
1- filerCIK 0001812637
Filing Metadata
- Form type
- 4
- Filed
- May 16, 8:00 PM ET
- Accepted
- May 17, 7:07 PM ET
- Size
- 9.9 KB