SEC Form 4 · accession 0001047340-16-000406
DEL MONTE CORP · DMC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mohammad Abu-Ghazaleh
Officer — Chairman and CEO · Director · 10% Owner
Period of report
Feb 24, 2016
Accepted (ET)
Feb 25, 2016 · 4:44 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001047340
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary SharesF1 | Feb 24, 2016 | M | 10,000 | $38.99 | A | 5,423,983 | D | |
| Ordinary Shares | holding | — | — | — | 20,000 | I | Held by Spouse |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF2,F3 | $38.99 | Feb 24, 2016 | A | 50,000 | A | — | — | Ordinary Shares | 50,000 | 50,000 | D |
| Performance Stock UnitsF4,F3 | $38.99 | Feb 24, 2016 | A | 40,000 | A | — | — | Ordinary Shares | 40,000 | 40,000 | D |
| Restricted Stock UnitF2,F3 | $38.99 | Feb 24, 2016 | M | 10,000 | A | — | — | Ordinary Shares | 10,000 | 40,000 | D |
Explanation of responses
- F1Represents the number of ordinary shares that were acquired in connection with the settlement of the Restricted Stock Units (RSUs) listed in Table II.
- F2RSUs are granted under the Fresh Del Monte Produce Inc. 2014 Omnibus Share Incentive Plan. Each RSU represents a contingent right to receive one ordinary share of FDP. The RSUs will vest in five equal annual installments on each of 2/24/2016, 2/24/2017, 2/24/2018, 2/24/2019, and 2/24/2020.
- F3RSUs and Performance Stock Units (PSUs) do not have an expiration date.
- F4PSUs are granted under the Fresh Del Monte Produce Inc. 2014 Omnibus Share Incentive Plan. Each PSU represents a contingent right to receive one ordinary share of FDP. The PSUs are subject to meeting minimum performance criteria set by the compensation Committee of the Board of Directors of FDP. Provided such criteria are met, the PSUs will vest in three equal annual installments on each of 2/24/2017, 2/24/2018 and 2/24/2019.