SEC Form 4 · accession 0001104659-18-014208
Summit Materials, Inc. · SUM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Anne Lee Benedict
Officer — See Remarks
Period of report
Feb 27, 2018
Accepted (ET)
Mar 1, 2018 · 9:03 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 Stock | Feb 27, 2018 | M | 21,756 | $18.00 | A | 27,258 | D | |
| Class A Common Stock | Feb 27, 2018 | M | 4,411 | $17.07 | A | 31,669 | D | |
| Class A Common StockF1 | Feb 27, 2018 | S | 26,167 | $32.32 | D | 5,502 | D | |
| Class A Common StockF2 | Feb 28, 2018 | M | 1,793 | — | A | 7,295 | D | |
| Class A Common Stock | Feb 28, 2018 | F | 520 | $31.63 | D | 6,775 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options (right to buy)F3 | $18.00 | Feb 27, 2018 | M | 21,756 | D | — | Mar 11, 2025 | Class A Common Stock | 21,756 | 21,756 | D |
| Options (right to buy)F4 | $17.07 | Feb 27, 2018 | M | 4,411 | D | — | Feb 24, 2026 | Class A Common Stock | 4,411 | 4,412 | D |
| Restricted Stock UnitsF5,F6 | — | Feb 28, 2018 | M | 1,793 | D | — | — | Class A Common Stock | 1,793 | 3,584 | D |
| Restricted Stock UnitsF5,F7 | — | Feb 28, 2018 | A | 8,256 | A | — | — | Class A Common Stock | 8,256 | 8,256 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $32.16 to $32.43, 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.
- F2Reflects 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.
- F3Reflects the grant of 43,512 options that vest in four equal annual installments beginning on March 11, 2016.
- F4Reflects the grant of 13,235 options that vest in three equal annual installments beginning on February 24, 2017.
- F5Each restricted stock unit represents a contingent right to receive one share of Issuer 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.
- F6On February 28, 2017, the Reporting Person was granted 5,377 restricted stock units that vest in three equal annual installments beginning on February 28, 2018.
- F7These restricted stock units vest in three equal annual installments beginning on February 28, 2019.
Remarks
Title: EVP, Chief Legal Officer & Secretary