FREELAND JAY 4
4 · PERCEPTRON INC/MI · Filed Dec 4, 2019
Insider Transaction Report
Form 4
FREELAND JAY
Director
Transactions
- Award
Common Stock
2019-12-02$4.50/sh+2,777$12,497→ 9,645 total - Award
Common Stock
2019-12-02+1,590→ 11,235 total - Award
Employee Stock Option (Right to Buy)
2019-12-02+25,000→ 25,000 totalExercise: $4.50Exp: 2029-12-02→ Common Stock (25,000 underlying)
Footnotes (3)
- [F1]On December 2, 2019, the reporting person received 2,777 shares of Common Stock in lieu of a portion of his annual Board Compensation pursuant to the Directors Stock Purchase Rights under the 2004 Stock Incentive Plan, an Exempt Plan.
- [F2]On December 2, 2019, the reporting person received 1,590 shares of Common Stock in lieu of his quarterly Salary Compensation under the 2004 Stock Incentive Plan, an Exempt Plan.
- [F3]On December 2, 2019, the reporting person was granted an option to purchase 25,000 shares of Common Stock under the 2004 Stock Incentive Plan, an exempt plan. The option will become exercisable (i) 50% upon the earlier of the effective date of the appointment of a new Chief Executive Officer of the Company or the first year anniversary of the date of the grant, (ii) 25% on the second year anniversary of the date of the grant and (iii) 25% on third year anniversary of the date of grant at an exercise price equal to the fair market value of the Company's Common Stock as of December 2, 2019, expiring 10 years from the grant date.