Davidson Charles 4
4 · SCHMITT INDUSTRIES INC · Filed Sep 27, 2019
Insider Transaction Report
Form 4
Davidson Charles
Director
Transactions
- Award
Restricted Stock Units
2018-12-03+26,000→ 26,000 total→ Common Stock (26,000 underlying) - Exercise/Conversion
Common Stock
2019-09-27+5,000→ 6,000 total - Exercise/Conversion
Restricted Stock Units
2019-09-27−5,000→ 21,000 totalFrom: 2018-12-24Exp: 2028-12-24→ Common Stock (5,000 underlying)
Footnotes (3)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Company's common stock.
- [F2]One tranche of 5,000 RSUs vest if the 15-day trading average closing price of the Company's common stock is greater than or equal to the target price of $2.70 and seven tranches of 3,000 RSUs vest if the 15-day trading average closing prices of the Company's common stock is greater than or equal to the target price of $2.90, $3.10, $3.30, $3.50, $3.70, $3.90 and $4.10.
- [F3]RSUs vested on December 24, 2018, pursuant to the terms of the Strategic Advisory Committee charter.