Sec Form 4 Filing - Boyd Iain @ SNAP-ON Inc - 2016-02-11

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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
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1. Name and Address of Reporting Person
Boyd Iain
2. Issuer Name and Ticker or Trading Symbol
SNAP-ON Inc [ SNA]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
VP - Operations Development
(Last) (First) (Middle)
SNAP-ON INCORPORATED, 2801 80TH STREET
3. Date of Earliest Transaction (MM/DD/YY)
02/11/2016
(Street)
KENOSHA, WI53143
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/11/2016 M( 1 ) 2,577 A 12,303.4271 D
Common Stock 02/11/2016 F( 2 ) 902 D $ 138.03 11,401.4271 D
Common Stock 563.4348 ( 3 ) I By 401(k) Plan
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Performance Units ( 4 ) 02/11/2016 A( 1 ) 473 ( 1 ) ( 1 ) Common Stock 473 ( 1 ) 2,577 D
Performance Units ( 4 ) 02/11/2016 M( 1 ) 2,577 ( 1 ) ( 1 ) Common Stock 2,577 ( 1 ) 0 D
Restricted Stock Units ( 4 ) 02/11/2016 A( 5 ) 490 ( 5 ) ( 5 ) Common Stock 490 ( 5 ) 1,794 D
Stock Option (Right to Buy) $ 138.03 02/11/2016 A 13,500 02/11/2017( 6 ) 02/11/2026 Common Stock 13,500 ( 7 ) 13,500 D
Performance Units ( 4 ) 02/11/2016 A 1,051 ( 8 ) ( 8 ) Common Stock 1,051 $ 0 1,051 D
Restricted Stock Units ( 4 ) 02/11/2016 A 1,051 ( 9 ) ( 9 ) Common Stock 1,051 $ 0 1,051 D
Stock Option (Right to Buy) $ 58.94 02/09/2014 02/09/2021 Common Stock 10,000 10,000 D
Stock Option (Right to Buy) $ 60 02/08/2015 02/08/2022 Common Stock 12,000 12,000 D
Stock Option (Right to Buy) $ 79.04 02/13/2016 02/13/2023 Common Stock 13,000 13,000 D
Stock Option (Right to Buy) $ 109.43 02/13/2015( 6 ) 02/13/2024 Common Stock 13,500 13,500 D
Stock Option (Right to Buy) $ 144.69 02/12/2016( 6 ) 02/12/2025 Common Stock 13,500 13,500 D
Restricted Stock Units ( 4 ) ( 10 ) ( 10 ) Common Stock 2,211 2,211 D
Performance Units ( 4 ) ( 11 ) ( 11 ) Common Stock 1,660 1,660 D
Performance Units ( 4 ) ( 12 ) ( 12 ) Common Stock 1,304 1,304 D
Deferred Stock Units ( 4 ) ( 13 ) ( 13 ) Common Stock 317.7647 ( 3 ) 317.7647 ( 3 ) D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Boyd Iain
SNAP-ON INCORPORATED
2801 80TH STREET
KENOSHA, WI53143
VP - Operations Development
Signatures
/s/ Ryan S. Lovitz under Power of Attorney for Iain Boyd 02/15/2016
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Based on Company performance during the 2013-2015 period, approximately 122.5% of the performance units vested (as previously disclosed, the reporting person had the opportunity to earn up to 200% of the number originally reported, subject to plan limits).
( 2 )Shares were withheld to cover tax withholding upon the vesting of performance units.
( 3 )This information is based on a plan statement dated December 31, 2015.
( 4 )1 for 1.
( 5 )Based on Company performance during fiscal 2015, approximately 137.6% of the restricted stock units originally granted were earned (as previously disclosed, the reporting person had the opportunity to earn up to 200% of the number of units originally reported, subject to plan limits). Assuming continued employment through the end of fiscal 2017, the units will then vest in one installment and the shares will be issued shortly thereafter.
( 6 )Original option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.
( 7 )This transaction was an option grant. Accordingly, the reporting person did not pay a price to obtain the option.
( 8 )If the Company achieves certain goals over the 2016-2018 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
( 9 )The restricted stock units may be earned based on the achievement of certain Company goals during fiscal 2016. Assuming continued employment through the end of fiscal 2018, any units earned will then vest in one installment and the shares will be issued shortly thereafter. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
( 10 )The restricted stock units were earned based on Company performance during fiscal 2014. Assuming continued employment through the end of fiscal 2016, the units will then vest in one installment and the shares will be issued shortly thereafter.
( 11 )If the Company achieves certain goals over the 2014-2016 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
( 12 )If the Company achieves certain goals over the 2015-2017 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
( 13 )Payment will be made in accordance with the reporting person's deferral election, death, disability or termination of employment.

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