SEC Form 4 · accession 0001695434-17-000002
KRATOS DEFENSE & SECURITY SOLUTIONS, INC. · KTOS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven S. Fendley
Officer — President, US Division
Period of report
Apr 10, 2017
Accepted (ET)
Apr 12, 2017 · 8:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001069258
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 | — | Apr 10, 2017 | A | 25,000 | A | — | — | Common Stock | 25,000 | 25,000 | D |
| Restricted Stock UnitsF1,F3 | — | Apr 10, 2017 | A | 25,000 | A | — | — | Common Stock | 25,000 | 25,000 | D |
| Restricted Stock UnitsF1,F4 | — | Apr 10, 2017 | A | 100,000 | A | — | — | Common Stock | 100,000 | 100,000 | D |
Explanation of responses
- F1Each restricted stock unit (RSU) represents a contingent right to receive one share of Issuer's common stock.
- F2RSUs vest 20% on each anniversary of the date of grant, unless earlier vested or terminated pursuant to the terms of the RSU agreement.
- F3RSUs vest 25% on each anniversary of the date of grant, unless earlier vested or terminated pursuant to the terms of the RSU agreement.
- F450,000 RSUs vest 100% on the five year anniversary of the date of grant, unless earlier vested or terminated pursuant to the terms of the RSU agreement. The other 50,000 RSUs vest 20% upon each 10% increase in the closing market price of the Issuer's common stock measured from the RSU grant date through the 10-year anniversary of the RSU grant date, unless earlier vested or terminated pursuant to the terms of the RSU agreement (provided that such increase in the closing market price of common stock is sustained for twenty consecutive trading days).