SCIQUEST INC 4
4 · SCIQUEST INC · Filed Feb 19, 2016
Insider Transaction Report
Form 4
SCIQUEST INCSQI
WIEHE STEPHEN J
DirectorPresident and CEO
Transactions
- Award
Restricted Stock Unit
2016-02-18+59,000→ 142,078 total→ Common Stock (59,000 underlying) - Award
Performance-Based Restricted Stock Unit
2016-02-18+59,000→ 111,177 totalFrom: 2019-02-18→ Common Stock (59,000 underlying)
Footnotes (6)
- [F1]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of common stock upon vesting without consideration.
- [F2]The RSUs were granted on February 18, 2015 and vest in four equal annual installments on each anniversary of the grant date until February 18, 2020.
- [F3]Shares of common stock will be issuable with respect to the RSUs upon the earlier to occur of the fifth anniversary of the grant date and a change of control of the Company.
- [F4]Each Performance-Based Restricted Stock Unit ("PSU") represents a contingent right to receive shares of common stock upon vesting without consideration based on the performance of the Company's common stock as compared to the Russell 2000 Index (the "Index").
- [F5]This reflects the target number of shares issuable pursuant to the PSUs, with the actual number of shares issuable being variable based on over-or under-performance of the Company's stock price compared to the Index during the three-year period following the grant date. If the Company's common stock under-performs the Index, the number of shares issuable pursuant to the PSUs will be reduced from the target number of shares at a rate of 2 to 1 (two-percentage-point reduction in target shares for each percentage point of under-performance). If the Company's common stock outperforms the Index, number of shares issuable pursuant to the PSUs will be increased from the target shares at a rate of 2 to 1 (two-percentage-point increase in the number target shares for each percentage point of over-performance), up to 200% of the target shares.
- [F6]The shares subject to the PSUs are to be issued within 30 days following vesting.