SEC Form 4 · accession 0001127602-18-019020
OMNOVA SOLUTIONS INC · OMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David J Dantoni
Director
Period of report
May 25, 2018
Accepted (ET)
May 29, 2018 · 10:02 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001090061
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom SharesF1,F2,F3 | — | May 25, 2018 | A | 3,623 | A | — | — | Common Shares | 3,623 | 101,735 | I |
Explanation of responses
- F1The phantom shares were acquired under the OMNOVA Solutions Common Shares Fund of the OMNOVA Solutions Inc. Deferred Compensation Plan for Nonemployee Directors (the "Plan"). Under the terms of the Plan, each nonemployee director may elect, prior to the calendar year in which fees are earned, to defer all or a portion of his or her annual retainer, and committee and board chairman's fees into one or more investment options available under the Plan, including the OMNOVA Solutions Common Shares Fund. Phantom shares are credited to a director's account based on the number of OMNOVA common shares that could have been purchased with the amount deferred at the closing price per share on the New York Stock Exchange on the date that the director's fees would otherwise have been payable to him.
- F2Each phantom share represents the right to receive the cash value of one OMNOVA Common Share.
- F3Phantom shares are payable in cash in a lump sum or in up to ten annual installments (as elected by the director), commencing at a deferral date elected by the director, except under certain circumstances where the Plan provides for earlier distribution of his or her account balance.