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"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
| FORM 4 |
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION |
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
| ( 1 )Represents an award of 1,300 restricted stock units that vests in two equal installments on each of September 30, 2020 and December 31, 2020. This retainer award was granted in lieu and satisfaction of the annual cash retainer compensation to be earned by the director in connection with his service as a member of the Compensation Committee of the Issuer's Board of Directors, which service commenced on June 11, 2020. The number of shares of common stock subject to such retainer award is equal to the amount of cash that would have been received had the applicable retainer all been paid in cash on a prorated basis, divided by the average daily closing market price of the Issuer's common stock for the month of April, rounded to the nearest 100 shares.|
( 2 )Includes (a) the award described in footnote (1) above, (b) an award of 28,100 restricted stock units vesting on the earlier to occur of (i) the date of the Issuer's next Annual Meeting of Stockholders or (ii) June 18, 2021, (c) an award of 13,400 remaining unvested restricted stock units vesting in equal quarterly installments on September 30, 2020 and December 31, 2020, and (d) 208,326 shares of common stock held by the Reporting Person.
This form has been signed under power of attorney.
|* If the form is filed by more than one reporting person, see Instruction 4(b)(v).|
|** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).|