4//SEC Filing
Hill David Russell 4
Accession 0001179110-18-000526
CIK 0001013871other
Filed
Jan 3, 7:00 PM ET
Accepted
Jan 4, 6:00 PM ET
Size
19.3 KB
Accession
0001179110-18-000526
Insider Transaction Report
Form 4
Hill David Russell
Exec Vice Pres, Gen Counsel
Transactions
- Award
Common Stock, par value $.01 per share
2018-01-02+12,113→ 112,536 total - Tax Payment
Common Stock, par value $.01 per share
2018-01-02−9,112→ 127,435 total - Award
Relative Performance Stock Units
2018-01-02+19,870→ 19,870 totalFrom: 2021-01-02Exp: 2021-01-02→ Common Stock, par value $.01 per share (39,740 underlying) - Exercise/Conversion
Common Stock, par value $.01 per share
2018-01-02+23,909→ 136,547 total - Tax Payment
Common Stock, par value $.01 per share
2018-01-02−5,213→ 122,222 total - Exercise/Conversion
Market Stock Units
2018-01-02−22,105→ 0 totalFrom: 2018-01-02Exp: 2018-01-02→ Common Stock, par value $.01 per share (44,210 underlying)
Footnotes (11)
- [F1]Represents Restricted Stock Units issued to the Reporting Person under NRG Energy, Inc.'s Amended and Restated Long-Term Incentive Plan ("LTIP").
- [F10]Reporting Person will receive (i) a maximum of 39,740 shares of Common Stock if Company's TSR is ranked at or above the 75th percentile relative to a peer group of companies approved by the Company's Compensation Committee (the "Peer Group") for the performance period (the "Maximum"); (ii) 19,870 shares of Common Stock if Company's TSR is ranked at the 55th percentile relative to the Peer Group for the performance period (the "Target"); provided, however, if TSR is less than negative fifteen percent (-15%), the Company's TSR must be ranked at the 65th percentile relative to the Peer Group for the performance period to receive the Target award; or (iii) 4,968 shares of Common Stock if Company's TSR is ranked at the 25th percentile relative to the Peer Group for the performance period (the "Threshold"). The Reporting Person will not receive any shares of Common Stock if Company's TSR is below the 25th percentile relative to the Peer Group for the performance period.
- [F11]The Maximum award that the Reporting Person will receive shall not exceed six (6) times the fair market value of the Target award, determined as of the date of grant.
- [F2]Each RSU is equivalent in value to one share of NRG's Common Stock, par value $.01 per share. The Reporting Person will receive from NRG one such share of Common Stock for each RSU that will vest ratably over a three year period beginning on the first anniversary of the date of grant.
- [F3]The Reporting Person was issued 22,105 Market Stock Units by NRG under the LTIP on January 2, 2015 that vested on January 2, 2018. On the vesting date the Reporting Person was entitled to receive a maximum of 44,210 shares of Common Stock if the company achieved 100% increase in total shareholder return since the grant date (the "Maximum"), 22,105 shares of Common Stock if there is no change in total shareholder return since the grant date (the "Target"), or 16,578 shares of Common Stock if there is a 25% decrease in total shareholder return since the grant date (the "Threshold"). The Reporting Person would not have received any shares of Common Stock if total shareholder return had decreased by more than 25% since the grant date. The number of shares of Common Stock that the Reporting Person could have received is interpolated for total shareholder return falling between Threshold, Target and Maximum levels. On January 2, 2018 he vested in 23,909 shares.
- [F4]In connection with the vesting of the MSUs described above, an incremental 102 DERs vested, resulting in the reporting person holding 4,075 dividend equivalent rights in the aggregate. Dividend equivalent rights accrue on the reporting person's restricted stock units, market stock units or relative performance stock units, which become exercisable proportionately with the restricted stock units, market stock units or relative performance stock units to which they relate and may only be settled in NRG common stock. Each dividend equivalent right is the economic equivalent of one share of NRG common stock.
- [F5]The Reporting Person elected to satisfy his tax withholding obligation upon the exchange of common stock for MSUs having a value on the date of the exchange equal to the withholding obligation. This form reflects the surrender of 9,112 shares of common stock to satisfy the grantee's tax withholding obligation.
- [F6]In connection with the vesting of the MSUs described above, 1,360 DERs vested, resulting in the reporting person holding 2,715 dividend equivalent rights in the aggregate. Dividend equivalent rights accrue on the reporting person's restricted stock units, market stock units or relative performance stock units, which become exercisable proportionately with the restricted stock units, market stock units or relative performance stock units to which they relate and may only be settled in NRG common stock. Each dividend equivalent right is the economic equivalent of one share of NRG common stock.
- [F7]On January 2, 2015, Mr. Hill was issued 12,000 Restricted Stock Units ("RSUs") by NRG Energy, Inc. under the LTIP. Each RSU is equivalent in value to one share of NRG's Common Stock, par value $.01. On January 2, 2018, 12,000 shares vested. Mr. Hill elected to satisfy his tax obligation upon the exchange of common stock for RSUs having a value on the date of the exchange equal to the withholding obligation. This form is being filed to reflect the surrender of 5,213 shares of common stock to satisfy the grantee's tax withholding obligation.
- [F8]In connection with the vesting of the RSUs described above, 682 DERs vested, resulting in the reporting person holding 2,033 dividend equivalent rights in the aggregate. Dividend equivalent rights accrue on the reporting person's restricted stock units, market stock units or relative performance stock units, which become exercisable proportionately with the restricted stock units, market stock units or relative performance stock units to which they relate and may only be settled in NRG common stock. Each dividend equivalent right is the economic equivalent of one share of NRG common stock.
- [F9]The Reporting Person was issued 19,870 Relative Performance Stock Units ("RPSUs") by NRG Energy, Inc. under the LTIP on January 2, 2018. The RPSUs will convert to shares of NRG Common Stock on January 2, 2021 only in the event the Company has achieved a certain level of total shareholder return ("TSR") relative to the Peer Group (defined below) over a three-year performance period. The number of shares of Common Stock that the Reporting Person may receive is interpolated for TSR falling between Threshold, Target, and Maximum levels as described below.
Documents
Issuer
NRG ENERGY, INC.
CIK 0001013871
Entity typeother
Related Parties
1- filerCIK 0001556467
Filing Metadata
- Form type
- 4
- Filed
- Jan 3, 7:00 PM ET
- Accepted
- Jan 4, 6:00 PM ET
- Size
- 19.3 KB