4//SEC Filing
Schleicher Deborah M 4
Accession 0001209191-18-032550
CIK 0001007330other
Filed
May 22, 8:00 PM ET
Accepted
May 23, 3:23 PM ET
Size
12.0 KB
Accession
0001209191-18-032550
Insider Transaction Report
Form 4
Schleicher Deborah M
Chief Financial Officer
Transactions
- Award
Common Stock
2018-05-21+20,536→ 20,536 total - Award
Stock Option
2018-05-21+100,000→ 100,000 totalExercise: $9.50Exp: 2025-05-20→ Common Stock (100,000 underlying) - Award
Performance-Based Restricted Stock Unit
2018-05-21+10,000→ 10,000 total→ Common Stock (10,000 underlying)
Footnotes (6)
- [F1]Grant of restricted stock that vests in three equal installments on each of May 21, 2019, 2020 and 2021.
- [F2]Includes 20,536 shares of restricted stock that vest in three equal installments on each of May 21, 2019, 2020 and 2021.
- [F3]Each Performance-Based Restricted Stock Unit ("Unit") corresponds to a share of common stock of the Company. If vested, 100% of the vested Units will be paid in whole shares of common stock. 65% of the Units vest and become payable based on the cumulative revenue from continuing operations and 35% of the Units vest and become payable on the cumulative adjusted EBITDA from continuing operations that the Company achieves, in each case, for the two-year performance period ending December 31, 2018. The Units will become payable, if at all, no later than 15 days after the Company's Compensation Committee determines the performance criteria achieved for the performance period (which determination cannot, in any event, be earlier than January 2019 or after April 2019).
- [F4]At the threshold performance level, 35% of the Units will become vested and payable and at the target performance level, 100% of the Units will become vested and payable. If performance falls between the stated performance levels the percentage of Units that shall become vested and payable will be based on a straight line interpolation between such stated performance levels (although the Units may not become vested and payable for more than 100% of the Units and no Units shall become vested and payable if performance does not equal or exceed the applicable threshold performance level).
- [F5]The target performance level is consistent with the Company's long term growth plan aligned with financial performance expected to result in meaningful enterprise value creation. Achievement of the revenue and adjusted EBITDA performance levels required for vesting of any of the Units will require substantial improvement over the Company's comparable performance in 2016.
- [F6]Option vests in three equal installments on each of May 21, 2019, 2020 and 2021.
Documents
Issuer
PRGX GLOBAL, INC.
CIK 0001007330
Entity typeother
Related Parties
1- filerCIK 0001741018
Filing Metadata
- Form type
- 4
- Filed
- May 22, 8:00 PM ET
- Accepted
- May 23, 3:23 PM ET
- Size
- 12.0 KB