SEC Form 4 · accession 0001209191-18-020730
Vivint Solar, Inc. · VSLR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Bywater
Officer — Chief Executive Officer · Director
Period of report
Mar 15, 2018
Accepted (ET)
Mar 19, 2018 · 7:07 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001607716
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 15, 2018 | A | 317,460 | $0.00 | A | 801,516 | D | |
| Common Stock | Mar 16, 2018 | S | 17,639 | $3.25 | D | 783,877 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F3 | $3.15 | Mar 15, 2018 | A | 485,436 | A | — | Mar 15, 2028 | Common Stock | 485,436 | 485,436 | D |
Explanation of responses
- F1Represents restricted stock units ("RSUs") granted pursuant to the 2014 Equity Incentive Plan which can only be settled with shares of common stock. 25% of the RSUs become vested on January 1, 2019 and thereafter 6.25% of the RSUs vest in equal quarterly installments beginning April 1, 2019, until the RSUs are fully vested; in each such case subject to the Reporting Person's continued service to the Issuer or any subsidiary of the Issuer through each such date.
- F2The sales reported by Mr. Bywater were effected pursuant to a Rule 10b5-1 trading plan.
- F3The shares subject to this option shall vest at the rate of 25% of the total number of shares on January 1, 2019 and thereafter 6.25% of the total shares subject to this option shall vest in equal quarterly installments beginning April 1, 2019, until the option is fully vested; in each such case subject to the Reporting Person's continued service to the Issuer or any subsidiary of the Issuer through each such date.