SEC Form 4 · accession 0000106455-17-000019
WESTMORELAND COAL Co · WLB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph Earl Micheletti
Officer — Executive Vice President
Period of report
Apr 13, 2017
Accepted (ET)
Apr 18, 2017 · 9:54 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 | 1,098 | $0.00 | A | 21,833 | D | |
| Common Stock | Apr 13, 2017 | F | 439 | $14.61 | D | 21,394 | D | |
| Common Stock | Apr 13, 2017 | M | 1,880 | $0.00 | A | 23,274 | D | |
| Common Stock | Apr 13, 2017 | F | 816 | $14.61 | D | 22,458 | D | |
| Common Stock | Apr 13, 2017 | M | 3,150 | $0.00 | A | 25,608 | D | |
| Common Stock | Apr 13, 2017 | F | 1,433 | $14.61 | D | 24,175 | D | |
| Common Stock | Apr 13, 2017 | M | 4,938 | $0.00 | A | 29,113 | D | |
| Common Stock | Apr 13, 2017 | F | 2,301 | $14.61 | D | 26,812 | D | |
| Common StockF1 | holding | — | — | — | 6,392 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3 | — | Apr 13, 2017 | M | 1,098 | D | Apr 1, 2017 | — | Common Stock | 1,098 | 0 | D |
| Restricted Stock UnitF2,F3 | — | Apr 13, 2017 | M | 1,880 | D | Apr 1, 2017 | — | Common Stock | 1,880 | 1,880 | D |
| Restricted Stock UnitsF2,F3 | — | Apr 13, 2017 | M | 3,150 | D | Apr 1, 2017 | — | Common Stock | 3,150 | 6,300 | D |
| Restricted Stock UnitsF4,F2 | — | Apr 13, 2017 | M | 4,938 | D | Apr 1, 2017 | Apr 13, 2017 | Common Stock | 4,938 | 0 | D |
Explanation of responses
- F1The reporting person acquired additional shares of common stock under the Westmoreland Coal Company 401(k) plan since the date of the last report. The information in this report is based on plan information as of April 18, 2017.
- F2Each 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.
- F3The Restricted Stock Units vest in three equal annual installments beginning on April 1st following the grant date.
- F4Performance-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.