SEC Form 4 · accession 0001144204-18-020194
SAExploration Holdings, Inc. · SAEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeff Hastings
Officer — See Remarks · Director
Period of report
Apr 9, 2018
Accepted (ET)
Apr 11, 2018 · 8:12 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001514732
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 | — | Apr 9, 2018 | A | 2,934,402 | A | — | — | Common Stock | 2,934,402 | 2,934,402 | D |
Explanation of responses
- F1The Restricted Stock Units were issued pursuant to the SAExploration Holdings, Inc. (the "Company") 2018 Long Term Incentive Plan (the "2018 Plan") on April 9, 2018. The 2018 Plan became effective March 5, 2018. Restricted Stock Units will generally be settled in shares of Common Stock. However, the Compensation Committee will have discretion to pay Restricted Stock Units, upon settlement, in cash, shares of Common Stock, or a combination thereof.
- F2The Restricted Stock Units will vest as follows: (i) 25% on the 18-month anniversary of the consummation of the Restructuring, or July 29, 2019; (ii) 25% on the second anniversary of the consummation of the Restructuring, or January 29, 2020; and (iii) the remaining 50% on the third anniversary of the consummation of the Restructuring, or January 29, 2021.
Remarks
Chairman and Chief Executive Officer