SEC Form 4 · accession 0000106455-17-000020
WESTMORELAND COAL Co · WLB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin A Paprzycki
Officer — CEO · Director
Period of report
Apr 13, 2017
Accepted (ET)
Apr 18, 2017 · 9:55 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 | 1,252 | $0.00 | A | 23,538 | D | |
| Common Stock | Apr 13, 2017 | F | 464 | $14.61 | D | 23,074 | D | |
| Common Stock | Apr 13, 2017 | M | 4,229 | $0.00 | A | 27,303 | D | |
| Common Stock | Apr 13, 2017 | F | 1,850 | $14.61 | D | 25,453 | D | |
| Common Stock | Apr 13, 2017 | M | 10,000 | $0.00 | A | 35,453 | D | |
| Common Stock | Apr 13, 2017 | F | 4,539 | $14.61 | D | 30,914 | D | |
| Common Stock | Apr 13, 2017 | M | 5,633 | $0.00 | A | 36,547 | D | |
| Common Stock | Apr 13, 2017 | F | 2,504 | $14.61 | D | 34,043 | D | |
| Common Stock | holding | — | — | — | 9,987 | 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 UnitsF1,F2 | — | Apr 13, 2017 | M | 1,252 | D | Apr 1, 2017 | — | Common Stock | 1,252 | 0 | D |
| Restricted Stock UnitF1,F2 | — | Apr 13, 2017 | M | 4,229 | D | Apr 1, 2017 | — | Common Stock | 4,229 | 4,229 | D |
| Restricted Stock UnitsF1,F2 | — | Apr 13, 2017 | M | 10,000 | D | Apr 1, 2017 | — | Common Stock | 10,000 | 20,000 | D |
| Restricted Stock UnitsF3,F1 | — | Apr 13, 2017 | M | 5,633 | D | Apr 1, 2017 | Apr 13, 2017 | Common Stock | 5,633 | 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.