SEC Form 4 · accession 0001104659-16-150914
Nexeo Solutions, Inc. · NXEO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brian Herington
Officer — See Remarks
Period of report
Oct 17, 2016
Accepted (ET)
Oct 19, 2016 · 4:06 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001604416
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitF1,F2 | — | Oct 17, 2016 | A | 50,000 | A | — | — | Common Stock | 50,000 | 50,000 | D |
Explanation of responses
- F1Performance Share Units granted pursuant to the Nexeo Solutions, Inc. 2016 Long Term Incentive Plan. Each Performance Share Unit represents a contingent right to receive a certain number of shares of the Issuer's common stock, to be determined based upon the attainment of certain performance goals set forth in the Performance Share Unit Agreement, dated October 17, 2016, by and between the Issuer and the Reporting Person, for the performance period ending June 30, 2019. The vesting of the Reporting Person's Performance Share Unit awards is tied to the market price of the Issuer's securities during the performance period (and in some cases, the Issuer's Adjusted EBITDA achievement), as well as the satisfaction of certain time-based vesting conditions during the period beginning on the date of grant and ending on the date of settlement of the award.
- F2These achievements may result in a payout ranging between 0% and 200% of the target. The number of performance rights shown in columns 5 and 7 is equal to the target number of performance rights that may be earned.
Remarks
Senior Vice President, Chemicals