FRANK ALEXANDER C 4
4 · Fifth Street Asset Management Inc. · Filed Oct 18, 2017
Insider Transaction Report
Form 4
FRANK ALEXANDER C
COO & CFO
Transactions
- Exercise/Conversion
Restricted Stock Units
2017-10-03−52,317→ 0 total→ Class A Common Stock (52,317 underlying) - Exercise/Conversion
Class A Common Stock, $0.01 par value per share
2017-10-16+72,700→ 100,560 total - Tax Payment
Class A Common Stock, $0.01 par value per share
2017-10-03$3.90/sh−24,457$95,382→ 27,860 total - Exercise/Conversion
Class A Common Stock, $0.01 par value per share
2017-10-03+52,317→ 52,317 total - Exercise/Conversion
Holdings LP Interests
2017-10-16−72,700→ 32,240 total→ Class A Common Stock (72,700 underlying)
Footnotes (3)
- [F1]Pursuant to a separation agreement and general release entered into as of September 22, 2017 by and between Mr. Frank and the Issuer, vesting of 52,317 unvested restricted stock units ("RSUs") granted to Mr. Frank in October 2014 was accelerated and such RSUs vested on September 30, 2017 and 27,828 RSUs granted to Mr. Frank in October 2014 were forfeited and ceased to be outstanding as of September 30, 2017. On October 3, 2017, 27,860 vested RSUs were exchanged for shares of the Issuer's Class A common stock on a one-for-one basis.
- [F2]On October 16, 2017, Mr. Frank, pursuant to the Exchange Agreement (as defined below), exchanged limited partnership interests ("Holdings LP Interests") of Fifth Street Holdings L.P. ("Holdings") for shares of the Issuer's Class A common stock on a one-for-one basis.
- [F3]Pursuant to the terms of the exchange agreement, dated as of October 29, 2014, by and among the Issuer, Holdings and the limited partners of Holdings party thereto (the "Exchange Agreement"), and subject to certain requirements and restrictions, the Holdings LP Interests are exchangeable for shares of Class A common stock on a one-for-one basis, from and after the second anniversary of the closing of the Issuer's initial public offering. After such time, Mr. Frank will be permitted to exchange the vested portion of his Holdings LP Interests, subject to certain conditions of call or forfeiture.