SEC Form 4 · accession 0001545421-16-000015
CIFC LLC · CIFC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen J Vaccaro
Officer — Co-Pres & CIO
Period of report
Jun 30, 2016
Accepted (ET)
Jul 5, 2016 · 10:54 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001649709
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF1 | Jun 30, 2016 | M | 6,000 | $0.00 | A | 457,976 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share UnitsF2,F3 | — | Jun 30, 2016 | M | 6,000 | D | Mar 31, 2016 | Mar 31, 2016 | Common Shares | 6,000 | 252,000 | D |
Explanation of responses
- F1Restricted Share Units granted June 13, 2014 were previously reported on Table II as derivative securities. The balance of that grant, 252,000 Restricted Share Units, is now included in Table I, Column 5.
- F2Each Restricted Share Unit represents a contingent right to receive one Common Share of the Issuer.
- F3The Restricted Share Units vest in five equal tranches and installments as follows: (i) 60,000 vest at a rate of 20% on December 31, 2014 and in 16 equal quarterly installments thereafter; (ii) 60,000 vest at a rate of 20% on December 31, 2015 and in 16 equal quarterly installments thereafter; (iii) 60,000 vest at a rate of 20% on December 31, 2016 and in 16 equal quarterly installments thereafter; (iv) 60,000 vest at a rate of 20% on December 31, 2017 and in 16 equal quarterly installments thereafter; and (v) 60,000 vest at a rate of 20% on December 31, 2018 and in 16 equal quarterly installments thereafter. The Restricted Share Units are subject to adjustment, acceleration and forfeit as more fully described in the Restricted Share Unit Award Agreement, dated June 13, 2014, between the Issuer and the Reporting Person.