SEC Form 4 · accession 0001144204-18-025786
PHIBRO ANIMAL HEALTH CORP · PAHC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Larry Lee Miller
Officer — Chief Operating Officer
Period of report
May 7, 2018
Accepted (ET)
May 7, 2018 · 6:00 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001069899
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 UnitsF2,F1,F3 | — | May 7, 2018 | A | 250,000 | A | — | — | Class A Common Stock | 250,000 | 250,000 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents a contingent right to receive one share of Class A Common Stock.
- F2On May 7, 2018, the Compensation Committee approved the grant to the reporting person of 50,000 RSUs subject to time-based vesting and 200,000 RSUs subject to performance-based vesting based solely on the Company's stock price.
- F3The time-based RSUs will vest on December 31, 2020, and the performance-based RSUs will vest on December 31, 2020 in increments from 0% to 100% based on the 90-day average of the Company's stock price from $0 to $80 ending on December 31, 2020, in each case so long as the reporting person's employment has not been terminated prior to such date, and in each case subject to earlier vesting upon certain qualifying termination events. Vested shares will be delivered to the reporting person 30 days after vesting, subject to later delivery in the event of certain trading blackout periods.