SEC Form 4 · accession 0001545421-15-000002
CIFC Corp. · CIFC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen J Vaccaro
Officer — Co-Pres & CIO
Period of report
Dec 31, 2014
Accepted (ET)
Jan 2, 2015 · 7:42 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001313918
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Dec 31, 2014 | M | 12,000 | $0.00 | A | 58,000 | D | |
| Common Stock | Jan 1, 2015 | M | 50,000 | $0.00 | A | 108,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2,F3 | $0.00 | Dec 31, 2014 | M | 12,000 | D | — | — | Common Stock | 12,000 | 288,000 | D |
| Restricted Stock UnitsF1,F4 | $0.00 | Jan 1, 2015 | M | 50,000 | D | — | — | Common Stock | 50,000 | 50,000 | D |
Explanation of responses
- F1Each Restricted Stock Unit represents a contingent right to receive on share of Common Stock of the Issuer.
- F2The Restricted Stock Units vest in five equal tranches and installments as follows: (i) 60,000 vest at a rate of 20% on December 31, 2014 and in 16 equal quarterly installments thereafter; (ii) 60,000 vest at a rate of 20% on December 31, 2015 and in 16 equal quarterly installments thereafter; (iii) 60,000 vest at a rate of 20% on December 31, 2016 and in 16 equal quarterly installments thereafter; (iv) 60,000 vest at a rate of 20% on December 31, 2017 and in 16 equal quarterly installments thereafter; and (v) 60,000 vest at a rate of 20% on December 31, 2018 and in 16 equal quarterly installments thereafter. The Restricted Stock Units are subject to adjustment, acceleration and forfeit as more fully described in the Restricted Stock Unit Award Agreement, dated June 13, 2014, between the Issuer and the Reporting Person.
- F3The Restricted Stock Units vest in five equal tranches and installments as follows: (i) 60,000 vest at a rate of 20% on December 31, 2014 and in 16 equal quarterly installments thereafter, (ii) 60,000 vest at a rate of 20% on December 31, 2015 and in 16 equal quarterly installments thereafter, (iii) 60,000 vest at a rate of 20% on December 31, 2016 and in 16 equal quarterly installments thereafter, (iv) 60,000 vest at a rate of 20% on December 31, 2017 and in 16 equal quarterly installments thereafter, and (v) 60,000 vest at a rate of 20% on December 31, 2018 and in 16 equal quarterly installments thereafter. The Restricted Stock Units are subject to adjustment, acceleration and forfeit as more fully described in the Restricted Stock Unit Award Agreement, dated June 13, 2014, between the Issuer and the Reporting Person.
- F450% of the Restricted Stock Units vest on January 1, 2015 and the remaining 50% vest on January 1, 2016, and are subject to adjustment, acceleration and forfeit as more fully described in the Restricted Stock Unit Award Agreement, dated June 13, 2014, between the Issuer and the Reporting Person.