SEC Form 4 · accession 0001073429-19-000036
US CONCRETE INC · USCR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gibson T Dawson
Officer — VP, Corporate Controller & CAO
Period of report
Mar 1, 2019
Accepted (ET)
Mar 5, 2019 · 7:31 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001073429
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common stock | Mar 1, 2019 | F | 72 | $40.86 | D | 2,079 | 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,F3 | — | Mar 1, 2019 | A | 3,500 | A | — | — | Common stock | 3,500 | 3,500 | D |
Explanation of responses
- F1Each Restricted Stock Unit was granted from the U.S. Concrete, Inc. Long Term Incentive Plan and represents the right to receive one share of common stock upon vesting.
- F2The Restricted Stock Units were granted on March 1, 2019 and will vest as follows: (i) 60% of the total number of the awarded shares are Time-Based and will become vested over three years in equal annual installments from the date of grant, and (ii) the remaining 40% of the awarded shares are Performance-Based, half (or 50%) of which shall vest on the day that the average of the daily volume-weighted average share price of the Company's stock over any period of 20 consecutive trading days attains $45.90 per share within the three-year period beginning on the date of grant, and the remaining half of which shall vest on the day that the average of the daily volume-weighted average share price of the Company's stock over any period of 20 consecutive trading days attains $49.90 per share within the three-year period beginning on the date of grant.
- F3The Performance-Based portion of the Restricted Stock Units would result in vesting into additional shares if the average of the daily VWAP over any period of 20 consecutive trading days attains (i) 54.10 per share (resulting in the vesting into an additional 700 shares) and (ii) $58.60 per share (resulting in the vesting into a further additional 700 shares) within the three-year period from the date of grant.