4//SEC Filing
Wright Lee A. 4
Accession 0001179110-22-000250
CIK 0001528930other
Filed
Jan 4, 7:00 PM ET
Accepted
Jan 5, 4:36 PM ET
Size
9.2 KB
Accession
0001179110-22-000250
Insider Transaction Report
Form 4
Wright Lee A.
Chief Commercial Officer
Transactions
- Award
Performance Restricted Stock Units
2022-01-03+55,556→ 55,556 total→ Common Stock (55,556 underlying) - Award
Performance Restricted Stock Units
2022-01-03+70,000→ 70,000 total→ Common Stock (70,000 underlying)
Footnotes (2)
- [F1]Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share, par value $0.01 per share of Issuer's common stock ("Common Stock"). The maximum number of PRSUs is presented in the table. The resulting number of shares acquired upon vesting of the PRSU is measured based upon the achievement of certain performance metrics, as determined by the Compensation Committee, over a three-year performance period commencing on January 3, 2022 and ending on December 28, 2024 (the "Performance Period"). Vesting of the target level PRSUs will accelerate upon death or disability in an amount equal to the proportion of days in the Performance Period worked. Vesting of the target PRSUs may also accelerate in certain circumstances if there is a change in control of the Issuer during the Performance Period.
- [F2]Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share, par value $0.01 per share, of Issuer's common stock. Each PRSU vests two years after Issuer's common stock achieves a total shareholder return of 100% of the grant date closing price of Issuer's common stock (or $71.96, giving effect to cash dividends paid during this period) for 10 consecutive trading days (the "TSR Hurdle"), provided the TSR Hurdle is achieved within three years of the grant date. If the TSR Hurdle is not achieved within three years of the grant date, the PRSUs will expire and are terminated. Upon the achievement of the TSR Hurdle, vesting of the PRSUs will accelerate upon death, disability or qualified retirement and the PRSUs may also accelerate, in certain circumstances, if there is a change in control of Issuer. Dividends will not accrue on the PRSUs until such PRSUs are converted into shares of Issuer's common stock upon vesting.
Documents
Issuer
Franchise Group, Inc.
CIK 0001528930
Entity typeother
Related Parties
1- filerCIK 0001531650
Filing Metadata
- Form type
- 4
- Filed
- Jan 4, 7:00 PM ET
- Accepted
- Jan 5, 4:36 PM ET
- Size
- 9.2 KB