SEC Form 4 · accession 0001209191-17-061377
CIMPRESS plc · CMPR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Scott J Vassalluzzo
Director · 10% Owner · Other
Period of report
Nov 15, 2017
Accepted (ET)
Nov 17, 2017 · 11:29 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001262976
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitsF1,F2 | $87.12 | Nov 15, 2017 | A | 1,291 | A | — | Nov 15, 2027 | Ordinary Shares | 1,291 | 1,291 | D |
Explanation of responses
- F1This dollar amount is the three-year moving average daily price per share of Cimpress' ordinary shares ("3YMA") on the date of grant, which is the baseline against which the compound annual growth rate ("CAGR") of the 3YMA will be measured.
- F2Each performance share unit (PSU) represents a right to receive between 0 and 2.5 Cimpress ordinary shares upon the satisfaction of both (A) service-based vesting and (B) performance conditions relating to the CAGR of the 3YMA. The service-based vesting condition is that 25% of the original number of PSUs vest on each November 13 of 2018 through 2021 so long as the reporting person continues to be an eligible participant under Cimpress' 2016 Performance Incentive Plan on such vesting date. If the 3YMA CAGR equals or exceeds 11% on any of the sixth through tenth anniversaries of the grant date then the reporting person is entitled to receive a distribution of up to 2.5 Cimpress ordinary shares for each vested PSU on a sliding scale based on the actual CAGR performance.