SEC Form 4 · accession 0000899243-18-007757
TPI COMPOSITES, INC · TPIC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William E Siwek
Officer — CFO
Period of report
Mar 14, 2018
Accepted (ET)
Mar 16, 2018 · 6:14 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001455684
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Mar 14, 2018 | A | 27,933 | A | — | — | Common Stock | 27,933 | 27,933 | D |
| Restricted Stock UnitsF1,F3 | — | Mar 14, 2018 | A | 11,579 | A | — | — | Common Stock | 11,579 | 11,579 | D |
Explanation of responses
- F1Each restricted stock unit (each, an "RSU") represents a contingent right to receive one share of common stock. All unvested restricted stock units will automatically expire upon the Reporting Person's termination of service from Issuer.
- F2The RSUs will vest in three tranches: 1/3 will vest upon the Issuer's common stock achieving a market price of $28, 1/3 will vest upon the Issuer's common stock achieving a market price of $33 and 1/3 will vest upon the Issuer's common stock achieving a market price of $38, in each case during the performance period starting on January 1, 2018 and ending on December 31, 2020; provided, that the Reporting Person continues to provide services to the Issuer through the vesting period.
- F3100% of the RSUs will vest on March 14, 2021; provided, that the Reporting Person continues to provide services to the Issuer through the vesting date.