SEC Form 4 · accession 0001127602-18-029446
Adient plc · ADNT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Douglas G Delgrosso
Officer — President and CEO · Director
Period of report
Oct 1, 2018
Accepted (ET)
Oct 3, 2018 · 5:25 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001670541
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary SharesF1 | Oct 1, 2018 | A | 57,465 | — | A | 57,465 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitsF2 | — | Oct 1, 2018 | A | 133,823 | A | — | — | Ordinary Shares | 133,823 | 133,823 | D |
Explanation of responses
- F1Reflects grant of restricted stock units that, subject to certain acceleration and forfeiture provisions, vest in three equal installments on each of the first, second and third anniversaries of the grant date. Restricted stock units accrue dividend equivalent units and convert into ordinary shares upon vesting.
- F2Each performance share unit ("PSU") is the equivalent of one Adient plc ordinary share. The PSUs vest based on the difference in (i) the average closing price of Adient ordinary shares over the 10 trading days before and 10 trading days after October 1, 2018, the reporting person's start date with Adient, and (i) the average closing price of Adient ordinary shares over the 10 trading days before and 10 trading days after the third anniversary of the grant date, as set forth in the Form 8-K dated September 13, 2018. The target number of PSUs that may be earned is reported above; the maximum amount is 250% of the number reported.