SEC Form 4 · accession 0001127602-17-016350
Tower International, Inc. · TOWR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Nicholas D Chabraja
Director
Period of report
Apr 30, 2017
Accepted (ET)
May 2, 2017 · 4:38 pm EDT
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 ShareF1 | Apr 30, 2017 | M | 6,786 | — | A | 18,786 | D | |
| Common Stock, Par Value $0.01 Per ShareF1 | Apr 30, 2017 | M | 6,862 | — | A | 25,647 | D | |
| Common Stock, Par Value $0.01 Per ShareF1 | Apr 30, 2017 | M | 7,656 | — | A | 33,303 | D |
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 | — | Apr 30, 2017 | M | 6,786 | D | — | — | Common Stock, Par Value $0.01 Per Share | 6,786 | 0 | D |
| Restricted Stock UnitsF1,F2 | — | Apr 30, 2017 | M | 6,862 | D | — | — | Common Stock, Par Value $0.01 Per Share | 6,862 | 0 | D |
| Restricted Stock UnitsF1,F2 | — | Apr 30, 2017 | M | 7,656 | D | — | — | Common Stock, Par Value $0.01 Per Share | 7,656 | 0 | 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"). The number of RSUs shown includes dividend equivalent units ("DEUs") accrued as additional RSUs on the original grants of RSUs.
- F2Mr. Chabraja retired from the Company's Board of Directors effective April 30, 2017. These RSUs were granted under the Company's 2010 Equity Incentive Plan (the "Plan") and have vested. Pursuant to the Plan, shares of Common Stock will be issued in settlement of the vested RSUs within 10 days of Mr. Chabraja's retirement date. As previously reported, Mr. Chabraja also holds RSUs granted to him under the Plan on March 6, 2017 (the "March 2017 RSUs"), which are not included on this Form 4. Mr. Chabraja will be entitled to receive shares of Common Stock subject to the March 2017 RSUs, plus all related accrued DEUs, on March 6, 2018.