4//SEC Filing
PROVIDENCE SERVICE CORP 4
Accession 0001437749-16-033209
$MODVQCIK 0001220754operating
Filed
Jun 1, 8:00 PM ET
Accepted
Jun 2, 4:21 PM ET
Size
6.5 KB
Accession
0001437749-16-033209
Insider Transaction Report
Form 4
Tawil Sophia D
SVP, General Counsel & Sec
Transactions
- Award
Performance Award
2016-04-27+0→ 0 total→ Common Stock (0 underlying)
Footnotes (2)
- [F1]Pursuant to the Issuer's 2015 Holding Company LTI Program (the "Program"), to the extent the value of the Company's outstanding shares of common stock ("Stock"), as calculated pursuant to the Program as of August 6, 2015, increases at a compounded annual rate of at least 8% between August 6, 2015 and December 31, 2017 as determined pursuant to the Program (the "Hurdle Shareholder Value"), then a pool will be established in an amount equal to 8% of any increase in the value of the Stock above the Hurdle Shareholder Value ("Pool Amount").
- [F2](continued from footnote 2) Participants in the Program will be entitled to receive a specified percentage of any Pool Amount (the "Issuance Value") as soon as reasonably practicable following December 31, 2017 (the "Determination Date") payable as follows: (i) unrestricted stock having a fair market value equal to 60% of the Issuance Value and (ii) Stock units having a fair market value equal to 40% of the Issuance Value, 62.5% of which are to become vested and payable in unrestricted Stock on the first anniversary of the Determination Date and 37.5% of which are to become vested and payable in unrestricted Stock on the second anniversary of the Determination Date. The Reporting Person has been awarded 7.5% of any Pool Amount.
Documents
Issuer
PROVIDENCE SERVICE CORP
CIK 0001220754
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001220754
Filing Metadata
- Form type
- 4
- Filed
- Jun 1, 8:00 PM ET
- Accepted
- Jun 2, 4:21 PM ET
- Size
- 6.5 KB