SEC Form 4 · accession 0001016125-16-000135
ULTIMATE SOFTWARE GROUP INC · ULTI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mitchell K Dauerman
Officer — Exec. VP, CFO and Treasurer
Period of report
Feb 8, 2016
Accepted (ET)
Feb 9, 2016 · 4:54 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001016125
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Restricted Stock AwardF1 | Feb 8, 2016 | A | 38,947 | $0.00 | A | 172,760 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The restricted stock award was granted in connection with an amendment (the "Amendment")to the Company's Amended and Restated Change in Control Bonus Plan for Executive Officers ("CIC Plan"). The Amendment to the CIC Plan (i) reduced the aggregate limit on the amount of payments that may be made under the CIC Plan and (ii) reduced the size of the awards granted to each of the participants in the CIC Plan. Pursuant to the terms of the CIC Plan, in connection with reducing these awards and the aggregate plan limit, the Company was required to provide each of the participants in the CIC Plan I, including Mr. Dauerman, with an arrangement of comparable value as determined by the Compensation Committee of the Board of Directors in good faith. This restricted stock award was granted for that purpose.