SEC Form 4 · accession 0001140361-15-040701
HERC HOLDINGS INC · HRI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John P Tague
Officer — President and CEO · Director
Period of report
Nov 10, 2015
Accepted (ET)
Nov 12, 2015 · 10:47 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001364479
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Options (right to purchase)F1,F2 | $22.75 | Nov 10, 2015 | A | 500,000 | A | — | — | Common Stock | 500,000 | 500,000 | D |
Explanation of responses
- F1On November 21, 2014, the Reporting Person was issued: (1) an option to acquire 500,000 shares of common stock of the Issuer (the "transition options") that will vest on December 31, 2015 if the Reporting Person develops and presents a business plan by December 31, 2015 that is approved by the Board of Directors, and a management team that is reasonably acceptable to the Board is in place by June 30, 2015, subject to the Reporting Person's continued employment on the vesting date, which will expire no later than December 31, 2019; and (2) an option to acquire 500,000 shares of common stock of the Issuer that will vest on December 31, 2017, subject to the satisfaction of revenue efficiency metrics in respect of the period from 2015-2017 to be developed by the Compensation Committee of the Board with input from the Reporting Person, and the Reporting Person continued employment on the vesting date, which will expire no later than June 30, 2020.
- F2On November 10, 2015, the performance criteria for the transition options were satisfied and the transition options will vest on December 31, 2015 if the Reporting Person continues to be employed by the Issuer on such date.