SEC Form 4 · accession 0001562180-18-004390
TPI COMPOSITES, INC · TPIC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven C Lockard
Officer — President and CEO · Director
Period of report
Nov 1, 2018
Accepted (ET)
Nov 2, 2018 · 7:05 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001455684
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Nov 1, 2018 | M | 51,795 | $10.8722 | A | 317,416 | D | |
| Common StockF2 | Nov 1, 2018 | S | 29,269 | $25.41 | D | 288,147 | D | |
| Common StockF3 | Nov 1, 2018 | S | 22,526 | $25.86 | D | 265,621 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to buy)F4 | $10.8722 | Nov 1, 2018 | M | 51,795 | D | — | May 29, 2025 | Common Stock | 51,795 | 716,130 | D |
Explanation of responses
- F1The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person in May, 2018.
- F2This transaction was executed in multiple trades at prices ranging from $25.12 to $25.53. The price reported above reflects the weighted-average price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
- F3This transaction was executed in multiple trades at prices ranging from $25.54 to $26.19. The price reported above reflects the weighted-average price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
- F4The option representing a right to purchase a total of 819,720 shares, vest over a four year period as follows: 25% of these securities vest on the first anniversary of the effective date of the initial public offering of the Issuer, and 6.25% vest on each quarterly anniversary thereafter, such that 100% of these securities vest on the fourth anniversary of the Issuer's offering; provided, that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.