SEC Form 4 · accession 0001562180-17-004044
RigNet, Inc. · RNET
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles E. Schneider
Officer — CFO and Senior Vice President
Period of report
Dec 27, 2017
Accepted (ET)
Dec 29, 2017 · 1:55 pm EST
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 | Dec 27, 2017 | J | 3,361 | $0.00 | D | 824 | D | |
| Common Stock | Dec 27, 2017 | M | 541 | $0.00 | A | 1,365 | D | |
| Common Stock | Dec 27, 2017 | M | 6,667 | $0.00 | A | 8,032 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitF2,F3 | — | Dec 27, 2017 | M | 541 | D | — | — | Common Stock | 541 | 0 | D |
| Restricted Stock UnitF4,F6,F5 | — | Dec 27, 2017 | M | 6,667 | D | — | — | Common Stock | 6,667 | 0 | D |
Explanation of responses
- F1Shares were forfeited due to the reporting person's separation from the issuer.
- F2Each 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.
- F3The 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.
- F4Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
- F5The settlement of these restricted stock units has been accelerated on the effective date of the reporting person's separation from the issuer pursuant to the terms of the reporting person's Restricted Stock Unit Award Agreement with the issuer.
- F6The reporting person previously reported 5,333 shares which has been forfeited due to reporting person's separation from the issuer.