4//SEC Filing
GIBRALTAR INDUSTRIES, INC. 4
Accession 0001562180-17-000778
$ROCKCIK 0000912562operating
Filed
Feb 16, 7:00 PM ET
Accepted
Feb 17, 5:26 PM ET
Size
26.8 KB
Accession
0001562180-17-000778
Insider Transaction Report
Form 4
SMITH KENNETH WALTER
Senior VP & CFO
Transactions
- Award
Performance Units (2016)
2017-02-15+16,632→ 33,264 total→ Common Stock (16,632 underlying)
Holdings
- 10,000
Executive Retirement RSU
- 2,291
Restricted Stock Unit (LTIP 01/02/2014)
- 5,432
Restricted Stock Unit (LTIP 01/02/2015)
- 57,414
Common Stock
- 25,000
Performance Stock Units (December 2015)
- 47,263.61
Restricted Stock Unit (MSPP Match Post-2012)
→ Common Stock (47,263.61 underlying) - 49,882.03
Restricted Stock Unit (MSPP)
→ Common Stock (49,882.03 underlying) - 6,619
Restricted Stock Unit (LTIP 02/01/2016)
- 12,500
Restricted Stock Units (December 2015)
- 12,500
Option (December 2015)
Exercise: $25.44From: 2018-12-31Exp: 2025-12-31→ Common Stock (12,500 underlying) - 51,956
Performance Units 2015
→ Common Stock (51,956 underlying) - 40,032.08
Restricted Stock Unit (MSPP Match)
→ Common Stock (40,032.08 underlying) - 66,826.04
Restricted Stock Unit (MSPP Post-2012)
→ Common Stock (66,826.04 underlying) - 20,000
Restricted Stock Unit (Retirement Supplement)
Footnotes (8)
- [F1]Represents Performance Units which will be awarded to the Reporting Person under the Company 's Equity Incentive Plan upon achievement of the targeted return on invested capital for 2016. The maximum number of Performance Units which may be earned is two hundred percent (200%) of the Performance Units awarded for target level performance and the minimum number of Performance Units which may be earned is zero (0) Performance Units.
- [F2]Performance Units vest and are paid at the end of the three (3) consecutive calendar year periods ending December 31, 2018 or, if earlier, upon death, disability or retirement. Performance Units are forfeited if employment is terminated before December 31, 2018 for reasons other than death, disability or retirement or by the Company without cause. Performance Units are payable solely in cash in an amount equal to the ninety (90) day trailing average price of one (1) share of the Company 's common stock determined as of December 31, 2018, or if applicable, as of the Reporting Person's death, disability or retirement.
- [F3]Represents an increase of the targeted number of Performance Units awarded to the Reporting Person on February 1, 2016 under the Company's 2015 Equity Incentive Plan as a result of the Company's achievement of a return on invested capital in excess of the targeted return on invested capital for 2016. The Compensation Committee has reviewed and confirmed the Company's calculation of Return on Invested Capital for 2016 as compared to target and approved the resulting increase in the number of Performance Units, based on the Company's 2016 audited financial statements.
- [F4]Performance Units vest and are paid at the end of three (3) consecutive calendar year periods ending December 31, 2017 or, if earlier, upon death, disability or retirement. Performance Units are forfeited if employment is terminated before December 31, 2017 for reasons other than death, disability or retirement or by the Company without cause. Performance Units are payable solely in cash in an amount equal to the ninety (90) day trailing average price of one (1) share of the Company 's common stock determined as of December 31, 2017, or if applicable, death, disability or retirement.
- [F5]Restricted stock units are forfeited if Reporting Person's service as an officer of the Company is terminated prior to age sixty (60). If service as an officer continues through age sixty (60), restricted stock units are payable solely in cash in one lump sum payment or in five (5) or ten (10) consecutive, substantially equal annual installments, whichever distribution form is elected by the Reporting Person, beginning six (6) months following termination of service. Each restricted stock unit is converted to cash in an amount equal to the fair market value (200 day rolling average) of one share of the Company's common stock on the date of termination of the Reporting Person's service as an officer of the Company.
- [F6]Restricted stock units are forfeited if employment is terminated prior to age sixty (60). If employment continues through age sixty (60), restricted stock units are payable solely in cash in five (5) consecutive substantially equal annual installments beginning six (6) months following termination of employment. Each restricted stock unit is converted to cash in an amount equal to the fair market value (200 day rolling average) of one share of the Company's common stock on the date the Reporting Person's employment is terminated.
- [F7]Restricted stock units are payable solely in cash in one lump sum payment or in five (5) or ten (10) consecutive, substantially equal annual installments, whichever distribution form is elected by the Reporting Person, beginning six (6) months following termination of service as an officer of the Company. Each restricted stock unit is converted to cash in an amount equal to the fair market value (200 day rolling average) of one share of the Company's common stock on the date of termination of the Reporting Person's service as an officer of the Company.
- [F8]Restricted stock units are payable solely in cash in five (5) consecutive, substantially equal annual installments beginning six (6) months following termination of employment. Each restricted stock unit is converted to cash in an amount equal to the fair market value (200 day rolling average) of one share of the Company's common stock on the date the Reporting Person's employment is terminated.
Issuer
GIBRALTAR INDUSTRIES, INC.
CIK 0000912562
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000912562
Filing Metadata
- Form type
- 4
- Filed
- Feb 16, 7:00 PM ET
- Accepted
- Feb 17, 5:26 PM ET
- Size
- 26.8 KB