Lukemire Michael C 4
4 · SCOTTS MIRACLE-GRO CO · Filed Sep 25, 2020
Insider Transaction Report
Form 4
Lukemire Michael C
Regional President, SE Region
Transactions
- Disposition to Issuer
Stock Option (right to buy)
2020-09-24−46,976→ 0 totalExercise: $68.68From: 2019-01-29Exp: 2026-01-29→ Common Shares (46,976 underlying) - Award
Stock Option (right to buy)
2020-09-24+49,983→ 49,983 totalExercise: $64.55From: 2020-09-24Exp: 2026-01-29→ Common Shares (49,983 underlying)
Footnotes (1)
- [F1]Reflects adjustment approved by the Board on 9/24/20 to previous stock option awards in connection with the special dividend of $5.00 per Common Share paid on 9/10/20 to shareholders of record on 8/27/20. The exercise price of the options outstanding as of 9/24/20 was adjusted to maintain the same ratio of exercise price to fair market value of the underlying common shares immediately before and immediately after the adjustment. Fair market value was established by comparing the volume weighted average share price measured on 8/25/20, the day before the ex-dividend date ($174.3835), with that measured on 8/26/20, the ex-dividend date ($163.8925, which was adjusted to exclude the impact of the ordinary dividend with the same record date). The number of stock options subject to each award was increased to ensure the total intrinsic value of the award was the same immediately before and immediately after the adjustment.