SCIQUEST INC 4
4 · SCIQUEST INC · Filed Feb 19, 2016
Insider Transaction Report
Form 4
SCIQUEST INCSQI
Collingsworth Grant W.
General Counsel
Transactions
- Award
Performance-Based Restricted Stock Unit
2016-02-18+11,400→ 24,519 totalFrom: 2019-02-18→ Common Stock (11,400 underlying) - Award
Restricted Stock Unit
2016-02-18+11,400→ 32,152 total→ Common Stock (11,400 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, 2016 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 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 the 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, the 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 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.