Bowser Scott L 4
4 · MODINE MANUFACTURING CO · Filed Jun 5, 2018
Insider Transaction Report
Form 4
Bowser Scott L
Regional VP - Americas
Transactions
- Award
Common stock
2018-06-02+15,896→ 147,610 total - Tax Payment
Common stock
2018-06-01$18.15/sh−1,082$19,638→ 133,947 total - Tax Payment
Common stock
2018-06-02$18.15/sh−7,122$129,264→ 140,488 total - Tax Payment
Common stock
2018-06-02$18.15/sh−2,233$40,529→ 131,714 total
Footnotes (3)
- [F1]Shares disposed of in a private transaction to cover tax withholding.
- [F2]This total includes 4765 units of Modine common stock held in the Reporting Person's Modine 401(k) Retirement Plan account.
- [F3]The performance period for Performance Stock under the long-term incentive compensation plan initiated in June 2015 terminated in calendar 2018. The amount of the award varied based upon the achievement of Threshold, Target or Maximum levels. Under that plan, the Company used two measures to determine the payouts: Three-Year Average ROACE ("ROACE") and Annual Revenue Growth. The Company's ROACE for the performance period was 7.9% and Annual Revenue Growth was 13.8%, both of which exceeded the Threshold level for those performance measures. As a result, in accordance with the long-term incentive compensation plan, the Company issued shares of unrestricted stock at approximately 138% of the Target.