SEC Form 4 · accession 0000899243-16-015240
LHC Group, Inc · LHCG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
COLISEUM CAPITAL PARTNERS, L.P.
Director
Coliseum Capital, LLC
Director
Coliseum Capital Management, LLC
Director
Christopher S Shackelton
Director
Adam Gray
Director
Period of report
Mar 1, 2016
Accepted (ET)
Mar 3, 2016 · 8:24 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001303313
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3,F4,F5,F6 | Mar 1, 2016 | M | 1,800 | $0.00 | A | 1,064,598 | I | See Footnotes |
| Common StockF1,F2,F3,F4,F5,F6 | Mar 1, 2016 | D | 1,800 | $37.43 | D | 1,062,798 | I | See Footnotes |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF1,F3,F4 | — | Mar 1, 2016 | M | 1,800 | D | Mar 1, 2016 | Mar 1, 2016 | Common Stock | 1,800 | 0 | I |
| Phantom StockF3,F4,F1 | — | Mar 1, 2016 | A | 1,700 | A | Mar 1, 2017 | Mar 1, 2017 | Common Stock | 1,700 | 1,700 | I |
Explanation of responses
- F1Each share of phantom stock is the economic equivalent of one share of the Issuer's common stock, par value $0.01 per share (the "Common Stock"). Each share of phantom stock is entitled to a cash payment equal to the fair market value of a share of the Common Stock as of the payment date based on the closing market price of the Common Stock on such date.
- F2The cash settlement of 1,800 shares of phantom stock is reported for purposes of Form 4 as the disposition of the phantom stock and a simultaneous acquisition and disposition of the underlying Common Stock. The phantom stock is entitled to a cash payment equal to the fair market value of one share of the Common Stock as of the payment date, which was $37.43 based on the closing price of the Common Stock on March 1, 2016, the most recent trading day immediately preceding the payment date.
- F3The phantom stock was received by Christopher Shackelton ("Shackelton") in connection with his service as a member of the board of directors of the Issuer. Shackelton has agreed that all equity awards he receives for serving as a director of the Issuer shall be issued to Coliseum Capital Partners, L.P. ("CCP"), an investment limited partnership of which Coliseum Capital, LLC, a Delaware limited liability company ("CC"), is general partner and for which Coliseum Capital Management, LLC, a Delaware limited liability company ("CCM"), serves as investment adviser.
- F4Shackelton and Adam Gray ("Gray") are managers of and have an ownership interest in each of CCM and CC. Coliseum Capital Partners II, L.P. ("CCP2" and, together with CCP, the "Funds") is an investment limited partnership of which CC is general partner and for which CCM serves as investment adviser. Each of Shackelton, Gray, the Funds, CC and CCM disclaims beneficial ownership of the phantom stock except to the extent of that person's pecuniary interest therein.
- F5The Common Stock reported in Column 5 of Table I is held directly by (a) CCP, (b) CCP2 and (c) a separate account investment advisory client of CCM (the "Separate Account").
- F6Shackelton and Gray are managers of and have an ownership interest in each of CCM and CC. Each of Shackelton, Gray, the Funds, CC and CCM disclaims beneficial ownership of these securities except to the extent of that person's pecuniary interest therein.
Remarks
Shackelton is a director of the Issuer. As a result, the following persons may be deemed directors by deputization of the Issuer solely for purposes of Section 16 of the Securities Exchange Act of 1934, as amended: CCM, CC, CCP, CCP2, and Gray.