RigNet, Inc. 4
4 · RigNet, Inc. · Filed Mar 17, 2017
Insider Transaction Report
Form 4
RigNet, Inc.RNET
Sutton William D.
V. P. & General Counsel
Transactions
- Award
2016 Performance Unit
2017-03-15+436→ 436 total→ Common Stock (436 underlying) - Award
Restricted Stock Unit
2017-03-15+9,381→ 9,381 total→ Common Stock (9,381 underlying)
Holdings
- 21,000
Restricted Stock Unit
→ Common Stock (21,000 underlying) - 18,306
Common Stock
- 12,000
Restricted Stock Unit
→ Common Stock (12,000 underlying)
Footnotes (6)
- [F1]Each performance unit represents a contingent right to receive one share of the Issuer's common stock under the Issuer's 2010 Omnibus Incentive Plan, as amended. On March 10, 2016, the reporting person was awarded a target number of performance units ("PUs") which were subject to the achievement of certain pre-established metrics over a one-year performance period which began on January 1, 2016 and ended December 31, 2016. On Mach 15, 2017, the Compensation Committee of the Issuer's Board of Directors certified the performance metrics and determined the number of PUs that were earned by the reporting person.
- [F2]The PUs become payable on July 1, 2019, but may be settled earlier upon certain circumstances as defined in the Issuer's Performance Unit Award Agreement.
- [F3]Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
- [F4]These restricted stock units will vest in four equal annual installments beginning March 19, 2018 and will be fully vested on March 19, 2021.
- [F5]These restricted stock units are scheduled to vest in four equal installments beginning on March 19, 2017 and will be fully vested on March 19, 2020.
- [F6]These restricted stock units will fully vest on March 19, 2019.