SEC Form 4 · accession 0001158449-16-000423
ADVANCE AUTO PARTS INC · AAP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
George E Sherman Jr.
Officer — President
Period of report
Mar 1, 2016
Accepted (ET)
May 31, 2016 · 5:05 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001158449
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 1, 2016 | A | 950 | — | A | 19,347 | D | |
| Common StockF2 | May 27, 2016 | F | 582 | $156.31 | D | 18,765 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation RightsF1 | $83.63 | Mar 1, 2016 | A | 12,811 | A | May 27, 2016 | May 28, 2020 | Common Stock | 12,811 | 12,811 | D |
Explanation of responses
- F1As previously reported, on May 28, 2013 the reporting person received an equity award, a portion of which was subject to the registrant achieving certain pre-determined financial performance targets subject to certification by the registrant's Compensation Committee. On March 1, 2016 the registrant's Compensation Committee determined that these performance conditions had been achieved at a level providing for a payout of 109% of the target award. The reported amount of common stock and stock appreciation rights (SARs) are fully vested and collectively represent the final vesting under this award. These awards met the time-based vesting requirements on May 27, 2016.
- F2Represents shares withheld to satisfy a tax withholding obligation upon the vesting of performance restricted stock units reported on this Form and previously reported restricted stock units that also vested on 5/27/2016.