SEC Form 4 · accession 0001209191-18-022149
Red Lion Hotels CORP · RLH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas L McKeirnan
Officer — E.V.P. & General Counsel
Period of report
Mar 27, 2018
Accepted (ET)
Mar 29, 2018 · 7:22 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001052595
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Based Restricted Stock UnitF2,F1 | — | Mar 27, 2018 | A | 13,992 | A | — | — | Common Stock | 13,992 | 13,992 | D |
Explanation of responses
- F1Each Performance Based Restricted Stock Unit represents a contingent right to receive one share of RLH common stock.
- F2On May 31, 2017 Mr. McKeirnan received a performance based restricted stock unit ("PSU") under the Company's 2015 Stock Incentive Plan representing the right to receive between 0 and 20,902 shares of Red Lion Hotels Corporation common stock (with 13,064 shares at the target level) if the company achieved or exceeded the following performance targets: 2017 adjusted EBITDA exceeded $20.24M (weighted 70%) and gross number of hotels added to system during 2017 exceeded 119 (weighted 30%). On March 27, 2018, the Board of Directors determined that the performance targets were met at the 107% level, therefore 13,992 PSUs were issued. The PSUs will vest in full on March 31, 2020, assuming continued employment through the vesting date.