SEC Form 4 · accession 0001514732-15-000072
SAExploration Holdings, Inc. · SAEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mike Scott
Officer — EVP - Operations
Period of report
Jun 29, 2015
Accepted (ET)
Jul 1, 2015 · 4:50 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001514732
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 44,455 | 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,F4,F2,F3 | — | Jun 29, 2015 | A | 9,745 | A | — | Jun 29, 2017 | Common Stock | 9,745 | 9,745 | D |
| Stock Option (Right to Buy)F5,F6 | $4.12 | Jun 29, 2015 | A | 19,989 | A | — | Jun 29, 2025 | Common Stock | 19,989 | 19,989 | D |
Explanation of responses
- F1The restricted stock units were issued pursuant to the SAExploration Holdings, Inc. (the "Company") 2013 Long Term Incentive Plan (the "Plan") on June 29, 2015.
- F2Each restricted stock unit represents the right to receive, upon vesting, either (i) a share of Common Stock of the Company or (ii) an amount of cash equal to the value of a share of the Company's Common Stock on the date of transfer.
- F3The restricted stock units will vest 1/3 on the date which is 90 days after the issuance and 1/3 each on the first and second anniversaries of the grant.
- F4The number of shares of restricted stock units issued was determined based on $4.12 per share, which is the greater of $4.12 and the $3.40 closing price of the Company's common stock on June 29, 2015.
- F5The stock options were issued pursuant to the Company's Plan on June 29, 2015.
- F6The stock option becomes exercisable as follows: (i) 1/3 of the Option becomes exercisable after 90 days of continuous "Service" (as defined in the Plan) from the date of the grant; (ii) 1/3 of the Optionbecomes exercisable after 12 months of continuous Service from the Date of Grant; and (iii) the remaining 1/3 of the Option becomes exercisable after 24 months of continuous Service from the date of the grant.