SEC Form 4 · accession 0001127602-15-031057
FIRST SOLAR, INC. · FSLR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paul J Kaleta
Officer — EVP, General Counsel
Period of report
Nov 6, 2015
Accepted (ET)
Nov 10, 2015 · 7:38 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001274494
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Nov 6, 2015 | M | 20,000 | $0.00 | A | 22,130 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitsF2,F3 | — | Nov 6, 2015 | M | 20,000 | D | — | — | Common Stock | 20,000 | 40,000 | D |
Explanation of responses
- F1Represents shares of common stock issuable upon vesting of the first tranche of the Key Senior Talent Performance Program ("KSTEPP") performance units granted to the reporting person on March 3, 2014. On November 6, the Compensation Committee of the Issuer's Board of Directors certified the Issuer's achievement of the vesting condition for the first tranche of the KSTEPP performance units.
- F2Each performance unit represents the right to receive, upon vesting, one share of the Issuer's common stock.
- F3The performance units were granted on March 3, 2014 and shall vest in two separate tranches, each contingent upon the achievement of a threshold performance goal and pre-established performance criteria within a defined performance period. Performance Units will not vest unless the participant is continuously employed by the Issuer through the applicable vesting date, unless the participant is eligible, in certain pre-established circumstances, for a pro-rata settlement. In the event of a change of control of the Issuer during the performance period, regardless of whether the threshold performance goal has been achieved, 25% of the then unvested portion of the performance unit will vest or a different amount as determined by the Compensation Committee of the Board of Directors. For more information, see Part II, Item 5 Other Information "Key Senior Talent Equity Performance Program", of the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 9, 2015.