SEC Form 4 · accession 0000899243-18-006705
Fiesta Restaurant Group, Inc. · FRGI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles Locke
Officer — President, Taco Cabana
Period of report
Mar 5, 2018
Accepted (ET)
Mar 7, 2018 · 7:02 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001534992
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 | Mar 5, 2018 | A | 6,017 | $0.00 | A | 7,582 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF2,F3 | — | Mar 5, 2018 | A | 18,049 | A | — | — | Common Stock | 18,049 | 18,049 | D |
Explanation of responses
- F1The Shares were granted to the Reporting Person pursuant to the Issuer's 2012 Stock Incentive Plan.
- F2Each performance right represents a contingent right to receive one share of the Issuer's common stock. The performance rights vest as follows: (i) 1/3 vests on March 6, 2019 upon the Issuer's common stock achieving a closing market price at or above $30.00 for 20 consecutive trading days at any point during the period between March 6, 2018 and March 6, 2019, (ii) 1/3 vests on March 6, 2020 upon the Issuer's common stock achieving a closing market price at or above $35.00 for 20 consecutive trading days at any point during the period between March 6, 2019 and March 6, 2020, (iii) 1/3 vests on March 6, 2021 upon the Issuer's common stock achieving a closing market price at or above $40.00 for 20 consecutive trading days at any point during the period between March 6, 2020 and March 6, 2021, and (iv) the employment of the Reporting Person by the Issuer on the applicable vesting date.
- F3(Continued from footnote 2) If the Issuer common stock target price above for any performance period is not met, any unvested shares of the Issuer's common stock will be rolled over to the subsequent performance period on a pro rata basis and subject to the Issuer common stock target price for such subsequent performance period.