SEC Form 4 · accession 0001127602-16-045576

Tower International, Inc. · TOWR

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

James Bernard

Officer — President, Americas

Period of report

Mar 4, 2016

Accepted (ET)

Mar 8, 2016 · 5:57 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001485469

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 Share^F1	Mar 6, 2016	M	2,329	—	A	7,047	I	By James S. Bernard Living Trust Dated 11/10/2010
Common Stock, Par Value $0.01 Per Share	Mar 6, 2016	F	737	$23.59	D	6,310	I	By James S. Bernard Living Trust Dated 11/10/2010
Common Stock, Par Value $0.01 Per Share^F1	Mar 6, 2016	M	1,143	—	A	7,453	I	By James S. Bernard Living Trust Dated 11/10/2010
Common Stock, Par Value $0.01 Per Share	Mar 6, 2016	F	363	$23.59	D	7,090	I	By James S. Bernard Living Trust Dated 11/10/2010
Common Stock, Par Value $0.01 Per Share^F1	Mar 6, 2016	M	1,156	—	A	8,246	I	By James S. Bernard Living Trust Dated 11/10/2010
Common Stock, Par Value $0.01 Per Share	Mar 6, 2016	F	367	$23.59	D	7,879	I	By James S. Bernard Living Trust Dated 11/10/2010

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Units^F1,F2	—	Mar 4, 2016	A	4,256	A	—	—	Common Stock, Par Value $0.01 Per Share	4,256	4,256	D
Restricted Stock Units^F1,F3	—	Mar 6, 2016	M	2,329	D	—	—	Common Stock, Par Value $0.01 Per Share	2,329	0	D
Restricted Stock Units^F1,F4	—	Mar 6, 2016	M	1,143	D	—	—	Common Stock, Par Value $0.01 Per Share	1,143	1,143	D
Restricted Stock Units^F1,F5	—	Mar 6, 2016	M	1,156	D	—	—	Common Stock, Par Value $0.01 Per Share	1,156	2,311	D

Explanation of responses

F1Each restricted stock unit (collectively, the "RSUs") represents a contingent right to receive one share of the common stock, par value $0.01 per share (the "Common Stock") of Tower International, Inc. (the "Company").
F2These RSUs will vest ratably on March 6, 2017, March 6, 2018, and March 6, 2019; provided, however, that such RSUs will vest in full upon the occurrence of a "change in control" of the Company, as defined in the Tower International, Inc. 2010 Equity Incentive Plan (the "Plan"), or if the reporting person's employment terminates due to death or disability. There is no expiration date.
F3The final one-third of the RSUs originally granted to the reporting person on March 5, 2013, including the dividend equivalent units (DEUs) accrued as additional RSUs in respect thereof, vested. The RSUs had no expiration date.
F4One-third of the RSUs originally granted to the reporting person on March 6, 2014, including a proportional amount of the DEUs accrued as additional RSUs in respect thereof, vested. The balance of the RSUs (including such proportional amount of the DEUs accrued in respect thereof), will vest on March 6, 2017; provided, however, that such RSUs will vest in full upon the occurrence of a "change in control" of the Company, as defined in the Plan, or if the reporting person's employment terminates due to death or disability. There is no expiration date.
F5One-third of the RSUs originally granted to the reporting person on March 6, 2015, including a proportional amount of the DEUs accrued as additional RSUs in respect thereof, vested. The balance of the RSUs (including such proportional amount of the DEUs accrued in respect thereof), will vest ratably on March 6, 2017 and March 6, 2018; provided, however, that such RSUs will vest in full upon the occurrence of a "change in control" of the Company, as defined in the Plan, or if the reporting person's employment terminates due to death or disability. There is no expiration date.