SEC Form 4 · accession 0001104659-17-013647
Summit Materials, Inc. · SUM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ted A Gardner
Director
Period of report
Feb 28, 2017
Accepted (ET)
Mar 2, 2017 · 8:20 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 StockF2,F1 | Mar 1, 2017 | S | 19,332 | $24.80 | D | 0 | I | See Footnote |
| Class A Common Stock | holding | — | — | — | 6,414 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3,F4 | — | Feb 28, 2017 | A | 4,098 | A | — | — | Class A Common Stock | 4,098 | 4,098 | D |
Explanation of responses
- F1Reflects securities held by certain investment funds affiliated with Silverhawk Summit, L.P. ("Silverhawk"). Mr. Gardner, a managing partner and co-founder of Silverhawk, may be deemed to have beneficial ownership of the securities of the Issuer held by Silverhawk.
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $24.71 to $24.92, 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.
- F3Each restricted stock unit represents a contingent right to receive one share of Issuer Class A common stock ("Class A Common Stock"). The restricted stock units will be settled in either Class A Common Stock or cash (or a combination thereof) at the discretion of the Issuer's compensation committee.
- F4The restricted stock units vest on February 28, 2018.
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.