4//SEC Filing
Cochrane Michael 4
Accession 0001209191-18-034436
CIK 0001007330other
Filed
May 30, 8:00 PM ET
Accepted
May 31, 5:43 PM ET
Size
9.5 KB
Accession
0001209191-18-034436
Insider Transaction Report
Form 4
Cochrane Michael
SVP, Global Client Operations
Transactions
- Award
Performance-Based Restricted Stock Unit
2018-05-29+28,885→ 28,885 total→ Common Stock (28,885 underlying) - Award
Common Stock
2018-05-29+16,115→ 135,864 total
Footnotes (4)
- [F1]Grant of restricted stock that vests in three approximately equal installments on each of May 29, 2019, 2020 and 2021.
- [F2]Includes (i) 13,334 shares of restricted stock that vest in two equal installments on each of March 30, 2019 and 2020 and (ii) 16,115 shares of restricted stock that vest in three approximately equal installments on each of May 29, 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. 50% of the Units vest and become payable based on the cumulative revenue from continuing operations, 35% of the Units vest and become payable based on the cumulative adjusted EBITDA from continuing operations and 15% of the Units vest and become payable based on the cumulative adjacent services revenue that the Company achieves, in each case, for the two-year performance period ending December 31, 2019. The Units will become payable, if at all, no later than 30 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 2020 or after April 2020).
- [F4]At the threshold performance level, 35% of the Units will become vested and payable; at the target performance level, 100% of the Units will become vested and payable; and at the maximum performance level, 150% 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 150% of the Units and no Units shall become vested and payable if performance does not equal or exceed the applicable threshold performance level).
Documents
Issuer
PRGX GLOBAL, INC.
CIK 0001007330
Entity typeother
Related Parties
1- filerCIK 0001606872
Filing Metadata
- Form type
- 4
- Filed
- May 30, 8:00 PM ET
- Accepted
- May 31, 5:43 PM ET
- Size
- 9.5 KB