4//SEC Filing
SOMMA RANDE S 4
Accession 0001209191-11-040527
CIK 0001485469other
Filed
Jul 20, 8:00 PM ET
Accepted
Jul 21, 5:15 PM ET
Size
8.7 KB
Accession
0001209191-11-040527
Insider Transaction Report
Form 4
SOMMA RANDE S
Other
Transactions
- Exercise/Conversion
Common Stock, par value $0.01 per share
2011-07-20$17.08/sh+46,080$787,046→ 56,080 total - Exercise/Conversion
Restricted Stock Units
2011-07-20−65,223→ 65,223 total→ Common Stock (65,223 underlying)
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 130,446 RSUs originally granted to the reporting person vested. Upon the vesting of 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 $326,962.44. 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; provided further, however, that, pursuant to the reporting person's Service Agreement with the Company, dated December 1, 2007 (as amended, the "Service Agreement"), if the Service Agreement expires on January 2, 2012 without offer of renewal by the Company, or if the Company terminates the Service Agreement during its current term without Cause (as defined in the Service Agreement), or if a Liquidation Event (as defined in the Service Agreement) occurs, if such termination occurs more than nine months but less than 18 months after the consummation of the Company's initial public offering, such RSUs shall vest in full on the earlier of the last day of such eighteen month period or December 31 of the year in which such termination occurs.
Documents
Issuer
Tower International, Inc.
CIK 0001485469
Entity typeother
Related Parties
1- filerCIK 0001205042
Filing Metadata
- Form type
- 4
- Filed
- Jul 20, 8:00 PM ET
- Accepted
- Jul 21, 5:15 PM ET
- Size
- 8.7 KB