SEC Form 4 · accession 0001437749-16-023384
GENERAC HOLDINGS INC. · GNRC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Aaron Jagdfeld
Officer — Chief Executive Officer · Director
Period of report
Jan 6, 2016
Accepted (ET)
Jan 8, 2016 · 4:40 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001474735
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.01 per shareF1 | Jan 6, 2016 | M | 703,791 | $2.00 | A | 1,388,805 | D | |
| Common Stock, par value $0.01 per share | Jan 6, 2016 | F | 369,037 | $28.51 | D | 1,019,768 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F2 | $2.00 | Jan 6, 2016 | M | 703,791 | D | — | Feb 10, 2020 | Common Stock | 703,791 | 0 | D |
Explanation of responses
- F1The transactions reflected on this Form 4 are the result of a long-term tax plan in which Mr. Jagdfeld has elected to exercise and hold an ownership position in previously granted share options. None of the shares acquired through the exercising of options are being sold through open market transactions. The disposition of 369,037 shares in Table 1 is solely the result of shares withheld by the Company to satisfy Mr. Jagdfeld's cost of exercise and tax withholding obligations as permitted pursuant to the terms of the Generac Holdings, Inc. Amended and Restated 2010 Equity Incentive Plan.
- F2The option provides for vesting in five equal annual installments beginning on February 10, 2011, subject in each case to Mr. Jagdfeld's continued employment with Generac Holdings Inc. through the vesting date.