SEC Form 4 · accession 0001171843-15-006266
SP Plus Corp · SP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Nov 9, 2015 | F | 1,203 | $24.638 | D | 49,257 | D | |
| Common StockF1,F2 | Nov 10, 2015 | F | 280 | $23.9958 | D | 48,977 | D |
Table II — derivative securities
Explanation of responses
- F1Represents a sale transaction required to satisfy tax-withholding obligations associated with the vesting of 4,313 restricted stock units.
- F2Includes 42,000 restricted stock units previously granted to the reporting person.
Remarks
On November 9, 2015, one-third of the outstanding restricted stock units granted to the reporting person and other members of the issuer's management team on October 4, 2012, in connection with the issuer's acquisition of Central Parking Corporation, vested and were settled in shares of the issuer's common stock. Pursuant to the terms of the restricted stock unit awards, such vesting was delayed from the original vesting date of October 4, 2015 until immediately after the end of the most recent quarterly "blackout period" under the issuer's insider trading policy. Upon the vesting of the outstanding restricted stock units held by the reporting person (as well as other members of the issuer's management team), the reporting person (as well as each other management team member) automatically sold, solely for purposes of satisfying the resulting tax withholding obligations, a number of shares of the issuer's common stock sufficient to enable the reporting person to satisfy such tax withholding obligations.