Jameson Piper P 4
4 · UNIVERSAL TECHNICAL INSTITUTE INC · Filed Sep 20, 2019
Insider Transaction Report
Form 4
Jameson Piper P
EVP & Chief Marketing Officer
Transactions
- Disposition to Issuer
Performance Cash
2019-09-17−46,375→ 63,706 total - Exercise/Conversion
Performance Units
2019-09-17−13,214→ 0 totalExp: 2019-09-13→ Common Stock (13,214 underlying) - Exercise/Conversion
Common Stock, $0.0001 par value
2019-09-17+13,214→ 63,706 total - Exercise/Conversion
Performance Cash
2019-09-17+46,375→ 63,706 total - Exercise/Conversion
Performance Cash
2019-09-17−46,375Exp: 2019-09-13→ Cash
Footnotes (3)
- [F1]Each performance unit represents a contingent right to receive one share of the Company's common stock, which vests based on the 2-year compound annual total shareholder return ("TSR"). For purposes of determining the TSR, the change in the price of the Company's common stock is based upon the 30-trading day average closing stock price (i) immediately preceding the grant date at the beginning of the performance period, and (ii) immediately preceding the second anniversary of the grant date at the end of the performance period. The number of shares delivered is less than the maximum number of shares that may be delivered pursuant to the award.
- [F2]Represents a contingent right to receive cash, which vests based on the 2-year compound annual TSR. For purposes of determining the TSR, the change in the price of the Company's common stock is based upon the 30-trading day average closing stock price (i) immediately preceding the grant date at the beginning of the performance period, and (ii) immediately preceding the second anniversary of the grant date at the end of the performance period. The amount delivered is less than the maximum amount of cash that may be delivered pursuant to the award.
- [F3]Performance Cash is settled solely in cash upon vesting. Therefore, the amount of securities beneficially owned following the reported transaction did not change.