SEC Form 4 · accession 0001209191-17-021255
RigNet, Inc. · RNET
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William D. Sutton
Officer — Vice President
Period of report
Mar 15, 2017
Accepted (ET)
Mar 17, 2017 · 10:13 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001162112
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 18,306 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2016 Performance UnitF1,F2 | — | Mar 15, 2017 | A | 436 | A | — | — | Common Stock | 436 | 436 | D |
| Restricted Stock UnitF3,F4 | — | Mar 15, 2017 | A | 9,381 | A | — | — | Common Stock | 9,381 | 9,381 | D |
| Restricted Stock UnitF3,F5 | — | holding | — | — | — | — | — | Common Stock | 21,000 | 21,000 | D |
| Restricted Stock UnitF3,F6 | — | holding | — | — | — | — | — | Common Stock | 12,000 | 12,000 | D |
Explanation of responses
- F1Each performance unit represents a contingent right to receive one share of the Issuer's common stock under the Issuer's 2010 Omnibus Incentive Plan, as amended. On March 10, 2016, the reporting person was awarded a target number of performance units ("PUs") which were subject to the achievement of certain pre-established metrics over a one-year performance period which began on January 1, 2016 and ended December 31, 2016. On Mach 15, 2017, the Compensation Committee of the Issuer's Board of Directors certified the performance metrics and determined the number of PUs that were earned by the reporting person.
- F2The PUs become payable on July 1, 2019, but may be settled earlier upon certain circumstances as defined in the Issuer's Performance Unit Award Agreement.
- F3Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
- F4These restricted stock units will vest in four equal annual installments beginning March 19, 2018 and will be fully vested on March 19, 2021.
- F5These restricted stock units are scheduled to vest in four equal installments beginning on March 19, 2017 and will be fully vested on March 19, 2020.
- F6These restricted stock units will fully vest on March 19, 2019.