SEC Form 4 · accession 0001209191-19-010995
POTLATCHDELTIC CORP · PCH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Covey
Officer — Chief Executive Officer
Period of report
Feb 14, 2019
Accepted (ET)
Feb 19, 2019 · 3:15 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001338749
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Feb 14, 2019 | A | 97,437 | $0.00 | A | 268,569 | D | |
| Common StockF3 | Feb 14, 2019 | A | 14,699 | $0.00 | A | 283,268 | D | |
| Common StockF4 | Feb 15, 2019 | S | 33,859 | $35.01 | D | 249,409 | D | |
| Common StockF5 | Feb 15, 2019 | S | 6,863 | $35.01 | D | 242,546 | D | |
| Common StockF6 | holding | — | — | — | 205 | I | 401K |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents shares of common stock issued in settlement of 2016-2018 Performance Share Grant.
- F2Includes adjustments for dividends accrued.
- F3Represents award of restricted stock units (RSUs) that may be settled only for shares of common stock on a one-for-one basis. The RSUs will vest on December 31, 2021, subject to continued employment through such date. During the vesting period, an amount equal to the dividends that would have been paid on the RSUs had they been in the form of common stock will be converted into additional RSUs. The additional RSUs will also vest on December 31, 2021.
- F4Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of the Performance Shares listed in Table I. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person.
- F5Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of the RSUs listed in Table I. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person.
- F6Reflects periodic contributions to the issuer's common stock fund in the issuer's 401(k) plan.
Remarks
Michael J. Covey Chairman and Chief Executive Officer