SEC Form 4 · accession 0001104659-16-161931
Neff Corp · NEFF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark Irion
Officer — Chief Financial Officer
Period of report
Dec 9, 2016
Accepted (ET)
Dec 13, 2016 · 6:09 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001617667
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1 | — | Dec 9, 2016 | A | 8,127 | A | — | — | Class A Common Stock | 8,127 | 8,127 | D |
| Stock Options (Right to Buy)F2 | $14.75 | Dec 9, 2016 | A | 16,304 | A | — | Dec 9, 2026 | Class A Common Stock | 16,304 | 16,304 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents a contingent right to receive one share of Class A Common Stock. The RSUs will cliff-vest on December 9, 2019, subject to continued employment (subject to certain acceleration triggers) and (a) in the case of 50% of the RSUs, only if the Company's return on invested capital for the three-year period from the date of grant exceeds its weighted average cost of capital for such period and (b) in the case of the other 50% of the RSUs, only if the Company's total stockholder return, as measured for such period, is equal to or greater than the median total stockholder return of companies in the S&P Trading Companies and Distributors GICS Sub-Industry for such period.
- F2The options vest in four equal annual installments beginning on the first anniversary of the grant date.