SEC Form 4 · accession 0001104659-17-012717
Summit Materials, Inc. · SUM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas W. Hill
Officer — President and CEO · Director
Period of report
Feb 24, 2017
Accepted (ET)
Feb 28, 2017 · 8:17 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001621563
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1,F2 | Feb 24, 2017 | M | 14,382 | — | A | 24,653 | D | |
| Class A Common Stock | Feb 24, 2017 | F | 4,043 | $23.75 | D | 20,610 | D | |
| Class A Common StockF4,F2,F5 | Feb 27, 2017 | S | 5,000 | $24.28 | D | 15,360 | I | See Footnote |
| Class A Common StockF6,F5 | Feb 28, 2017 | S | 5,000 | $23.89 | D | 10,360 | I | See Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF7,F8 | — | Feb 24, 2017 | M | 14,382 | D | — | — | Class A Common Stock | 14,382 | 28,763 | D |
Explanation of responses
- F1Reflects restricted stock units that upon vesting converted into shares of Class A common stock of the Issuer ("Class A Common Stock") on a one-for-one basis.
- F2Total holdings include shares of Class A Common Stock received pursuant to a stock dividend paid on December 28, 2016.
- F3The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
- F4The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $23.75 to $24.55, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
- F5Reflects securities held by a trust for the benefit of Mr. Hill's family, for which Mr. Hill's spouse serves as trustee.
- F6The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $23.75 to $24.23, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
- F7Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. The restricted stock units settle in either Class A Common Stock or cash (or a combination thereof) at the discretion of the Issuer's compensation committee.
- F8On February 24, 2016, the Reporting Person was granted 43,145 restricted stock units that vest in three equal annual installments beginning on February 24, 2017.
Remarks
The Reporting Person disclaims beneficial ownership of the securities reported herein as indirectly beneficially owned, except to the extent of his pecuniary interest therein.