SEC Form 4 · accession 0001158449-17-000054
ADVANCE AUTO PARTS INC · AAP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Tammy M Finley
Officer — EVP, General Counsel, Corp Sec
Period of report
Mar 1, 2017
Accepted (ET)
Mar 3, 2017 · 7:02 pm EST
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, 2017 | A | 1,149 | $156.68 | A | 9,449 | 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 RightsF2 | $107.93 | Mar 1, 2017 | A | 479 | A | Mar 1, 2017 | Dec 12, 2020 | Common Stock | 479 | 479 | D |
Explanation of responses
- F1The reported amount of time-based restricted stock units (RSUs) along with performance-based RSUs not reported on this Form 4, collectively, represent 30% and 70% portions, respectively, of a target equity award. The time-based RSUs are subject to time vesting in three approximately equal annual installments beginning one year from the grant date. The performance-based RSUs may vest on the third anniversary of the grant date, if the registrant achieves certain pre-determined financial performance targets, subject to certification by the registrant's Compensation Committee. In addition, if the registrant's financial performance exceeds the target levels, the reporting person may receive additional performance-based RSUs up to a maximum of an additional 200% of the target level grant of performance-based RSUs.
- F2On December 12, 2013, the reporting person received an equity award, a portion of which was subject to the registrant achieving certain per-determined financial performance targets, subject to certification by the registrant's Compensation Committee. Effective March 1, 2017 it was determined that these performance conditions had been achieved for a payout of 17.5% of the performance award. The reported amount of stock appreciation rights (SARs) are fully vested and collectively represent the final vesting under this award.