SEC Form 4 · accession 0000106455-17-000016
WESTMORELAND COAL Co · WLB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jennifer S Grafton
Officer — CAO, CLO & Secretary
Period of report
Apr 13, 2017
Accepted (ET)
Apr 18, 2017 · 9:51 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000106455
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Apr 13, 2017 | M | 1,138 | $0.00 | A | 15,533 | D | |
| Common Stock | Apr 13, 2017 | F | 445 | $14.61 | D | 15,088 | D | |
| Common Stock | Apr 13, 2017 | M | 3,101 | $0.00 | A | 18,189 | D | |
| Common Stock | Apr 13, 2017 | F | 1,359 | $14.61 | D | 16,830 | D | |
| Common Stock | Apr 13, 2017 | M | 5,250 | $0.00 | A | 22,080 | D | |
| Common Stock | Apr 13, 2017 | F | 4,071 | $14.61 | D | 18,009 | D | |
| Common Stock | Apr 13, 2017 | M | 5,121 | $0.00 | A | 23,130 | D | |
| Common Stock | Apr 13, 2017 | F | 4,011 | $14.61 | D | 19,119 | D |
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 | — | Apr 13, 2017 | M | 1,138 | D | Apr 1, 2017 | — | Common Stock | 1,138 | 0 | D |
| Restricted Stock UnitF1,F2 | — | Apr 13, 2017 | M | 3,101 | D | Apr 1, 2017 | — | Common Stock | 3,101 | 3,101 | D |
| Restricted Stock UnitsF1,F2 | — | Apr 13, 2017 | M | 5,250 | D | Apr 1, 2017 | — | Common Stock | 5,250 | 10,500 | D |
| Restricted Stock UnitsF3,F1 | — | Apr 13, 2017 | M | 5,121 | D | Apr 1, 2017 | Apr 13, 2017 | Common Stock | 5,121 | 0 | D |
Explanation of responses
- F1Each Restricted Stock Unit represents a contingent right to receive one share of common stock payable in common stock, cash or a combination thereof at the discretion of the Compensation and Benefits Committee.
- F2The Restricted Stock Units vest in three equal annual installments beginning on April 1st following the grant date.
- F3Performance-based Restricted Stock Units granted pursuant to the Westmoreland Coal Company 2014 Equity Incentive Plan for Employees and Non-Employee Directors on June 2, 2014. This award was based on a three year cumulative free cash flow metric and was earned at the maximum of 150% of target grant.