SEC Form 4 · accession 0001140361-18-022581
nVent Electric plc · NVT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lynnette R Heath
Officer — EVP & Chief HR Officer
Period of report
May 7, 2018
Accepted (ET)
May 9, 2018 · 5:49 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001720635
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary Shares - Restricted Stock UnitsF2 | May 7, 2018 | A | 4,440 | $0.00 | A | 30,131 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F4 | $25.34 | May 7, 2018 | A | 22,305 | A | — | May 7, 2028 | Ordinary Shares | 22,305 | 22,305 | D |
Explanation of responses
- F1Restricted stock units granted pursuant to and subject to a vesting condition of the nVent Electric plc 2018 Omnibus Incentive Plan. Each restricted stock unit represents a right to receive one nVent Electric plc share upon vesting.
- F2Includes 25,691 restricted stock units ("RSUs") as a result of each outstanding Pentair plc RSU being converted into an RSU denominated in nVent Electric plc ordinary shares in a manner intended to preserve the aggregate intrinsic value of the original Pentair plc RSU in connection with the spin-off of nVent Electric plc from Pentair plc.
- F3Employee stock option granted under the nVent Electric plc 2018 Omnibus Incentive Plan.
- F4One-third of the stock options become exercisable on each of January 2, 2019, 2020 and 2021.