SEC Form 4 · accession 0000899243-16-013994
MRC GLOBAL INC. · MRC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Andrew R Lane
Officer — Chairman, President & CEO · Director
Period of report
Feb 18, 2016
Accepted (ET)
Feb 22, 2016 · 8:42 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001439095
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 18, 2016 | A | 189,334 | $0.00 | A | 492,664 | D | |
| Common StockF1 | Feb 18, 2016 | G | 189,334 | $0.00 | D | 303,330 | D | |
| Common StockF1 | Feb 18, 2016 | G | 189,334 | $0.00 | A | 492,664 | I | Through A Limited Partnership |
| Common StockF3 | Feb 18, 2016 | A | 209,644 | $0.00 | A | 702,308 | D | |
| Common StockF3 | Feb 18, 2016 | G | 209,644 | $0.00 | D | 492,664 | D | |
| Common StockF3 | Feb 18, 2016 | G | 209,644 | $0.00 | A | 702,308 | I | Through A Limited Partnership |
| Common StockF4 | Feb 18, 2016 | F | 2,480 | $9.41 | D | 699,828 | I | Through A Limited Partnership |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On 2/18/2016, the reporting person received 189,334 Restricted Stock Units (the "February 2016 Grant"). Each Restricted Stock Unit represents a contingent right to receive one share of issuer's Common Stock. 34% of the February 2016 Grant will vest on 2/18/2017 and 33% of the February 2016 Grant will vest on each of 2/18/2018 and 2/18/2019, each conditioned on the reporting person's continued service with the issuer and subject to accelerated vesting under certain circumstances.
- F2The reporting person transferred the Restricted Stock Units as a gift to a family limited partnership.
- F3On 2/18/2016, the reporting person received 209, 644 Restricted Stock Units (the "Special February 2016 Grant"). Each Restricted Stock Unit represents a contingent right to receive one share of the issuer's Common Stock. 50% of the Special February 2016 Grant will vest on 2/18/2018 and 50% of the Special February 2016 Grant will vest on 2/18/2020, each conditioned on the reporting person's continued service with the issuer and subject to accelerated vesting under certain circumstances
- F4The reporting person surrendered these shares to satisfy tax withholding obligations resulting from the vesting of certain share of the issuer's Common Stock.