SEC Form 4 · accession 0001016281-17-000026
CARRIAGE SERVICES INC · CSV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Adeola Olaniyan
Other
Period of report
Mar 13, 2017
Accepted (ET)
Mar 14, 2017 · 4:35 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001016281
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 13, 2017 | M | 3,000 | $20.26 | A | 5,846 | D | |
| Common Stock | Mar 13, 2017 | M | 780 | $20.06 | A | 6,626 | D | |
| Common StockF1 | Mar 13, 2017 | F | 2,879 | $26.56 | D | 3,747 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF2 | $20.26 | Mar 13, 2017 | M | 3,000 | D | — | Feb 25, 2019 | Common Stock | 3,000 | 0 | D |
| Stock OptionsF3 | $20.06 | Mar 13, 2017 | M | 780 | D | — | Feb 23, 2026 | Common Stock | 780 | 3,120 | D |
| Performance AwardF4 | — | holding | — | — | — | — | Dec 31, 2020 | Common Stock | 1,200 | 1,200 | D |
Explanation of responses
- F1Represents the shares sold to cover payment of option exercise price for those options exercised on March 13, 2017.
- F2Stock Option grant pursuant to the Carriage Services, Inc. Amended and Restated 2006 Long-Term Incentive Plan of 9,000 options on 2/25/2014, of which 3,000 vested on 2/25/2015 and were exercised on 11/14/2016, 3,000 vested on 2/25/2016 and were exercised on 11/14/2016 and 3,000 vested on 2/25/2017 and were exercised on 3/13/2017.
- F3Stock Options granted pursuant to the Carriage Services, Inc. Second Amended and Restated 2006 Long-Term Incentive Plan of 3,900 options of which 780 vested on 2/23/2017 and were exercised on 3/13/2017, 780 shares will vest each year on 2/23/2018, 2/23/2019, 2/23/2020 and 2/23/2021. These stock options expire on 2/23/2026.
- F4Represents performance-based awards, payable in shares, granted under the Carriage Services, Inc. Second Amended and Restated 2006 Long-Term Incentive Plan. The award will vest (if at all) on December 31, 2020 provided that certain criteria surrounding Adjusted Consolidated EBITDA (Adjusted Earnings Before Interest Tax Depreciation and Amortization) and Relative Shareholder Return performance is achieved and the Reporting Person has remained continuously employed by Carriage through such date. The Relative Shareholder Return performance represents 75% of the award and the Adjusted Consolidated EBITDA performance represents 25% of the award.