SEC Form 4 · accession 0000892712-16-001542
SCHOOL SPECIALTY INC · SCOO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ryan Bohr
Officer — Exec. VP and CFO
Period of report
Mar 23, 2016
Accepted (ET)
Mar 25, 2016 · 4:03 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001055454
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Mar 23, 2016 | A | 5,750 | A | — | Mar 23, 2019 | Common Stock | 5,750 | 5,750 | D |
Explanation of responses
- F1The restricted stock units ("RSUs") will vest on the third anniversary of the date of grant based on the 15 day volume weighted average price of the Company's common stock ("15 Day VWAP") on the vesting date. The percentage of RSUs that will vest on the vesting date is as follows: 0% of total RSUs at a 15 day VWAP of less than $108.00; 20% of total RSUs at a 15 Day VWAP of at least $108.00 but less than $118.00; 40% of total RSUs at a 15 day VWAP of at least $118.00 but less than $128.00; 60% of total RSUs at a 15 day VWAP of at least $128.00 but less than $138.00; 80% of total RSUs at a 15 day VWAP of at least $138.00 but less than $148.00; and 100% of total RSUs at a 15 day VWAP of at least $148.00. Any RSUs that vest will be settled in shares of common stock on a 1-for-1 basis.
- F2In the event of a change in control prior to the three year anniversary of the date of grant, the RSUs will vest in accordance with the schedule above substituting the change in control price for the 15 Day VWAP.