Flynn Mark R. 4
4 · Tower International, Inc. · Filed Mar 8, 2019
Insider Transaction Report
Form 4
Flynn Mark R.
SVP, Global Human Resources
Transactions
- Award
Restricted Stock Units
2019-03-06+3,555→ 3,555 total→ Common Stock, Par Value $0.01 Per Share (3,555 underlying) - Exercise/Conversion
Common Stock, Par Value $0.01 Per Share
2019-03-06+1,162.1→ 1,162.1 total - Exercise/Conversion
Restricted Stock Units
2019-03-06−1,162.1→ 2,324.19 total→ Common Stock, Par Value $0.01 Per Share (1,162.1 underlying) - Tax Payment
Common Stock, Par Value $0.01 Per Share
2019-03-06$25.32/sh−396.1$10,029→ 766 total
Footnotes (3)
- [F1]Each restricted stock unit (collectively, the "RSUs") represents a contingent right to receive one share of the common stock, par value $0.01 per share (the "Common Stock") of Tower International, Inc. (the "Company").
- [F2]These RSUs will vest ratably on March 6, 2020, March 6, 2021, and March 6, 2022; provided, however, that such RSUs will vest in full upon the occurrence of a "change in control" of the Company, as defined in the Tower International, Inc. 2010 Equity Incentive Plan (the "Plan"), or if the reporting person's employment terminates due to death or disability. There is no expiration date.
- [F3]One-third of the RSUs originally granted to the reporting person on March 6, 2018, including a proportional amount of the DEUs accrued as additional RSUs in respect thereof, vested. The balance of the RSUs (including such proportional amount of the DEUs accrued in respect thereof), will vest ratably on March 6, 2020 and March 6, 2021; provided, however, that such RSUs will vest in full upon the occurrence of a "change in control" of the Company, as defined in the Plan, or if the reporting person's employment terminates due to death or disability. There is no expiration date.