SEC Form 4 · accession 0001246360-19-000793
Gates Industrial Corp Ltd. · GTES
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David H. Naemura
Officer — Chief Financial Officer
Period of report
Feb 22, 2019
Accepted (ET)
Feb 26, 2019 · 7:28 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001718512
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Time-Based Restricted Stock UnitsF1,F2 | — | Feb 22, 2019 | A | 27,712 | A | — | — | Ordinary Shares | 27,712 | 27,712 | D |
| Performance-Based Restricted Stock Units (PBRSU)F3,F4 | — | Feb 22, 2019 | A | 28,552 | A | — | — | Ordinary Shares | 28,552 | 28,552 | D |
| Employee Stock Options (right to buy)F5 | $16.46 | Feb 22, 2019 | A | 77,444 | A | — | Feb 22, 2029 | Ordinary Shares | 77,444 | 77,444 | D |
Explanation of responses
- F1Each time-based restricted stock unit represents a contingent right to receive one ordinary share.
- F2The time-based restricted stock units ("TBRSU") will, subject to the applicable award agreement, vest in the following increments: 9,237 on February 21, 2020; 9,237 on February 21, 2021 and 9,238 on February 21, 2022.
- F3Each performance-based restricted stock unit represents a contingent right to receive one ordinary share, subject to adjustment based on the Company's achievement of the three-year performance measure, which is based 50% on total shareholder return with absolute and relative measures and 50% on adjusted return on invested capital.
- F4This award vests on the date that the compensation committee certifies the achievement of the performance measure. The performance period over which the performance period is measured ends of January 1, 2022.
- F5Subject to the applicable award agreement, this award vests in the following increments: 25,814 on February 21, 2020; 25,815 on February 21, 2021 and 25,815 on February 21, 2022.