4//SEC Filing
Schwentor Larry 4
Accession 0001209191-11-040515
CIK 0001485469other
Filed
Jul 20, 8:00 PM ET
Accepted
Jul 21, 5:04 PM ET
Size
8.0 KB
Accession
0001209191-11-040515
Insider Transaction Report
Form 4
Schwentor Larry
Director
Transactions
- Exercise/Conversion
Restricted Stock Units
2011-07-20−37,177→ 37,177 total→ Common Stock (37,177 underlying) - Exercise/Conversion
Common Stock, par value $0.01 per share
2011-07-20$17.08/sh+26,265$448,606→ 29,265 total
Footnotes (3)
- [F1]Each restricted stock unit (collectively, the "RSUs") represents a contingent right to receive up to one share of the common stock, par value $0.01 per share (the "Common Stock") of Tower International, Inc. (the "Company").
- [F2]On July 20, 2011, fifty percent (50%) of the 74,354 RSUs originally granted to the reporting person vested. Upon the vesting of such RSUs, the Company settled, in accordance with the Tower International, Inc. 2010 Equity Incentive Plan (the "Plan"), a portion of the vested RSUs through a cash payment to the reporting person of $186,376.96. The balance of the RSUs will vest eighteen months after the consummation of the Company's initial public offering (the "Second Vesting Date"); 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; provided further, however, that if the Company terminates the reporting person's service for any reason other than for "cause," as defined in the Plan, or the reporting person's service terminates due to death or disability, (Continued in the next footnote)
- [F3]such unvested RSUs will vest on the earlier to occur of (i) the Second Vesting Date and (ii) December 31 of the calendar year during which such non-cause termination occurs.
Documents
Issuer
Tower International, Inc.
CIK 0001485469
Entity typeother
Related Parties
1- filerCIK 0001491676
Filing Metadata
- Form type
- 4
- Filed
- Jul 20, 8:00 PM ET
- Accepted
- Jul 21, 5:04 PM ET
- Size
- 8.0 KB