Stevenson Matthew 4
4 · Blue Bird Corp · Filed Jul 1, 2021
Insider Transaction Report
Form 4
Blue Bird CorpBLBD
Stevenson Matthew
DirectorPresident & CEO
Transactions
- Award
Common Stock
2021-07-01+40,000→ 40,000 total - Award
Common Stock
2021-07-01+40,000→ 80,000 total - Award
Common Stock
2021-07-01+40,000→ 160,000 total - Award
Common Stock
2021-07-01+40,000→ 120,000 total
Footnotes (7)
- [F1]The award represents a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the common stock of Blue Bird Corporation.
- [F2]The RSU's vest on December 11, 2022 subject to downward adjustments consistent with fiscal year 2022 adjusted EBITDA. If adjusted EBITDA is less than $85 million, then the no RSU's will vest. If adjusted EBITDA is $85 million but less than $100 million, then 50% of the RSU's will vest. If adjusted EBITDA is $100 million or more, then 100% will vest.
- [F3]Any RSU's that do not vest in fiscal years 2022-2025, but in no event more than 40,000 RSU's, may vest on December 11, 2026 if fiscal year adjusted EBITDA is $100 million or greater.
- [F4]In no event shall more than 100% of the Restricted Shares vest. In the event of a Change of Control as defined in the Plan, 20% of unvested Restricted Shares shall vest, unless the average closing price of the Company's common stock over the 30-day period prior to the Change of Control is $30.00 or higher, in which case all unvested Restricted Shares shall vest.
- [F5]The RSU's vest on December 11, 2023 subject to downward adjustments consistent with fiscal year 2023 adjusted EBITDA. If adjusted EBITDA is less than $85 million, then the no RSU's will vest. If adjusted EBITDA is $85 million but less than $100 million, then 50% of the RSU's will vest. If adjusted EBITDA is $100 million or more, then 100% will vest.
- [F6]The RSU's vest on December 11, 2024 subject to downward adjustments consistent with fiscal year 2024 adjusted EBITDA. If adjusted EBITDA is less than $100 million, then the no RSU's will vest. If adjusted EBITDA is $100 million or more, then 100% will vest.
- [F7]The RSU's vest on December 11, 2025 subject to downward adjustments consistent with fiscal year 2025 adjusted EBITDA. If adjusted EBITDA is less than $100 million, then the no RSU's will vest. If adjusted EBITDA is $100 million or more, then 100% will vest.