4//SEC Filing
Barag Jerry 4
Accession 0001104659-20-009380
CIK 0001341141other
Filed
Jan 30, 7:00 PM ET
Accepted
Jan 31, 5:30 PM ET
Size
13.7 KB
Accession
0001104659-20-009380
Insider Transaction Report
Form 4
Barag Jerry
PRESIDENT & CEO
Transactions
- Award
LTIP units
2020-01-29+6,419→ 6,419 total→ Common Stock - Award
LTIP units
2020-01-29+26,361→ 26,361 total→ Common Stock - Award
LTIP units
2020-01-29+25,218→ 25,218 total→ Common Stock
Footnotes (6)
- [F1]Reflects limited partnership units ("LTIP units") in the issuer's operating partnership, CatchMark Timber Operating Partnership, L.P., of which the issuer is the general partner and owns 99.99% of the common units, originally granted on November 29, 2018 that were subject to performance-based vesting criteria over a 3-year performance period from January 1, 2017 to December 31, 2019 (the "2017 LTIP Units"). The 2017 LTIP Units were earned upon the achievement of pre-established performance goals related to (i) relative TSR as compared to 2 pre-established peer groups comprised of companies within the timber industry and the lumber, paper and packaging industry (50%); (ii) relative TSR as compared to the Russell 3000 Index (30%); and (iii) relative TSR compared to the NCREIF Timberland Index) (20%).
- [F2]Reflects LTIP units originally granted on November 29, 2018 that were subject to performance-based vesting criteria over a 3-year performance period from January 1, 2018 to December 31, 2020 (the "2018 LTIP Units").The 2018 LTIP Units could be earned upon achievement of pre-established performance goals related to (i) relative TSR as compared to 2 pre-established peer groups comprised of companies within the timber industry and the lumber, paper and packaging industry (50%); (ii) relative TSR as compared to the Russell 3000 Index (30%); and (iii) relative TSR compared to the NCREIF Timberland Index) (20%).
- [F3]Reflects LTIP units originally granted on July 12, 2019 that were subject to performance-based vesting criteria over a 3-year performance period from January 1, 2019 to December 31, 2021 (the "2019 LTIP Units"). The 2019 LTIP Units could be earned upon achievement of pre-established performance goals related to (i) relative TSR as compared to 2 pre-established peer groups comprised of companies within the timber industry and the lumber, paper and packaging industry (70%); and (ii) relative TSR as compared to the Russell 3000 Index (30%).
- [F4]Pursuant to the terms of the reporting person's separation agreement with the issuer, dated as of January 20, 2020 (the "Separation Agreement"), the reporting person's 2018 LTIP Units and 2019 LTIP Units were treated as if the performance period concluded on January 21, 2020 with the reporting person earning a pro rata portion of the awards earned based on the actual achievement of the applicable performance metrics through January 21, 2020 multiplied by a fraction, the numerator of which was the number of full months elapsed in the applicable performance period prior to January 21, 2020, and the denominator of which was 36.
- [F5]Pursuant to the terms of the Separation Agreement, the 2017 LTIP Units, 2019 LTIP Units and 2019 LTIP Units earned were immediately vested. The issuer's Compensation Committee certified the level of achievement of the performance goals on January 29, 2020.
- [F6]LTIP units are a class of units structured to qualify as "profits interests" for federal income tax purposes that, subject to certain conditions, including vesting, are convertible by the reporting person into CatchMark Timber Operating Partnership, L.P. common units. For further information about the LTIP units, refer to Note 8-Noncontrolling Interest accompanying the audited financial statements and footnotes included in the issuer's Annual Report on Form 10-K for the year ended December 31, 2018.
Documents
Issuer
CatchMark Timber Trust, Inc.
CIK 0001341141
Entity typeother
Related Parties
1- filerCIK 0001590095
Filing Metadata
- Form type
- 4
- Filed
- Jan 30, 7:00 PM ET
- Accepted
- Jan 31, 5:30 PM ET
- Size
- 13.7 KB