SEC Form 4 · accession 0001562180-19-001829
TPI COMPOSITES, INC · TPIC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph Kishkill
Officer — Chief Commercial Officer
Period of report
Mar 6, 2019
Accepted (ET)
Mar 8, 2019 · 5:15 pm EST
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 6, 2019 | A | 10,533 | A | — | — | Common Stock | 10,533 | 10,533 | D |
| Restricted Stock UnitsF1,F3 | — | Mar 6, 2019 | A | 4,101 | A | — | — | Common Stock | 4,101 | 4,101 | D |
Explanation of responses
- F1Each restricted stock unit (RSU) represents a contingent right to receive one share of the common stock. All unvested RSUs will automatically expire upon 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 $36, 1/3 will vest upon the Issuer's common stock achieving a market price of $42 and 1/3 will vest upon the Issuer's common stock achieving a market price of $48, in each case during the performance period starting on January 1, 2019 and ending on December 31, 2021; provided, that the Reporting Person continues to provide services to the Issuer through the vesting period.
- F3100% of the RSUs will vest on March 6, 2022; provided, that the Reporting Person continues to provide services to the Issuer through the vesting date.