C&J Energy Services Ltd. 4
4 · C&J Energy Services Ltd. · Filed Mar 26, 2015
Insider Transaction Report
Form 4
Prestidge James H. Jr.
Chief Strategy Officer
Transactions
- Award
Common Stock
2015-03-24+25,000→ 64,884 total
Footnotes (2)
- [F1]These shares of restricted stock were granted under the C&J Energy Services 2015 Long-Term Incentive Plan.
- [F2]Subject to a two-tiered vesting schedule: (1) subject to performance-based vesting requiring certification by the Compensation Committee of the achievement of positive EBITDA as defined in the award agreement (Performance Vesting) in any calendar quarter during the period beginning 4/1/15 and ending 12/31/17 (Performance Cycle); and (2) additionally, subject to a time-based vesting schedule such that 1/3 of the restricted shares become unrestricted on the 1st, 2nd and 3rd anniversaries of the grant date. If a vesting date passes prior to the satisfaction of the Performance Vesting, the tranche of restricted shares subject to that vesting date will carry forward and be aggregated with the next tranche of restricted shares scheduled to vest on the next vesting date and be eligible to vest on such date, subject to satisfaction of the Performance Vesting. If the Performance Vesting is not satisfied during the Performance Cycle, all restricted shares shall be forfeited.