SEC Form 4 · accession 0001127602-16-042743
MRC GLOBAL INC. · MRC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Scott Alan Hutchinson
Officer — SVP - North America Operations
Period of report
Feb 18, 2016
Accepted (ET)
Feb 22, 2016 · 5:43 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 | 24,387 | $0.00 | A | 61,375 | D | |
| Common StockF2 | Feb 18, 2016 | F | 319 | $9.41 | D | 61,056 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On 2/18/2016, the reporting person received 24,387 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 surrendered these shares on February 18, 2015 to satisfy tax withholding obligations resulting from the vesting of certain shares of the issuer's Common Stock.