SEC Form 4 · accession 0001628280-16-012783
INNERWORKINGS INC · INWK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Eric D Belcher
Officer — President and CEO · Director
Period of report
Mar 15, 2016
Accepted (ET)
Mar 17, 2016 · 6:05 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001350381
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock (withholding for tax liability) | Mar 15, 2016 | F | 3,617 | $7.30 | D | 400,537 | D | |
| Common Stock (withholding for tax liability) | Mar 15, 2016 | F | 3,850 | $7.30 | D | 396,687 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F2 | $7.30 | Mar 15, 2016 | A | 400,000 | A | — | Mar 15, 2026 | Common Stock | 400,000 | 400,000 | D |
Explanation of responses
- F1Shares withheld by the issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock. This is not an open market sale of securities.
- F2Performance Options vest upon satisfaction of both performance and service conditions. Performance condition for each tranche requires daily volume weighted average price of Company's stock to exceed specified price target for 20 consecutive trading days, as follows: 50,000 options at $9 share price, 50,000 options at $10 share price, 100,000 options at $11 share price, 100,000 options at $12 share price, and 100,000 options at $13 share price. Service condition requires Reporting Person to be continuously employed through March 15, 2019.