SEC Form 4 · accession 0001214659-16-011655
Bankrate, Inc. · RATE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James R Gilmartin
Officer — SVP, General Counsel
Period of report
May 14, 2016
Accepted (ET)
May 17, 2016 · 5:00 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001518222
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 14, 2016 | F | 1,831 | $8.70 | D | 117,880 | D | |
| Common Stock | May 17, 2016 | S | 3,119 | $8.68 | D | 114,761 | D | |
| 2015 Performance SharesF3 | holding | — | — | — | 53,321 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents shares surrendered by the reporting person to Bankrate, Inc. to satisfy withholding tax obligations due upon vesting of restricted stock previously awarded to the reporting person.
- F2The transaction was pursuant to a 10b5-1 trading plan.
- F3Represents the "target" number of shares of common stock. The actual number of shares of common stock that will vest will depend on the Company's financial performance in respect of the 2015 and 2016 calendar years and could be as many as one and a half times the number of performance shares initially granted or as few as zero shares. Half of the shares that are earned will vest following the determination of the award value following the end of 2016 and the remaining half will vest on the third anniversary of the grant date, subject to continued employment through the applicable vesting dates. The shares are also subject to full or partial acceleration in the event of certain terminations of employment or the occurrence of certain terminations of employment following a change in control.