FARMER BROTHERS CO 4
4 · FARMER BROTHERS CO · Filed Dec 7, 2015
Insider Transaction Report
Form 4
PETH RENE ELAINE
Other
Transactions
- Award
Stock Option (right to buy)
2015-12-03+4,360→ 9,472 totalExercise: $29.48Exp: 2022-12-03→ Common Stock (4,360 underlying)
Footnotes (1)
- [F1]Grant of non-qualified stock option under the Farmer Bros. Co. Amended and Restated 2007 Long-Term Incentive Plan ("Plan"); the stock option vests pursuant to a three year vesting schedule, whereby one-third of the total number of shares issuable under the option becomes exercisable each year on the anniversary of the grant date, commencing on December 3, 2016, based on the Company's achievement of a modified net income target for fiscal 2016 ("Target") as approved by the Compensation Committee, subject to the acceleration provisions of the Plan and stock option agreement, and subject to the participant's employment by the Company or service on the Board of Directors of the Company on the applicable vesting date. Twenty percent (20%) of the total number of shares subject to each stock option will be forfeited if the Company's actual modified net income for fiscal 2016 is lower than the Target.