SEC Form 4 · accession 0000905729-17-000017
CHEMICAL FINANCIAL CORP · CHFC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dennis L Klaeser
Officer — Executive V.P., C.F.O.
Period of report
Jan 4, 2017
Accepted (ET)
Jan 6, 2017 · 3:47 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000019612
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jan 4, 2017 | A | 1,369 | $0.00 | A | 80,145 | D | |
| Common Stock | Jan 4, 2017 | F | 499 | $54.80 | D | 79,646 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Performance UnitsF1 | — | Jan 4, 2017 | A | 5,711 | A | — | — | Common Stock | 5,711 | 5,711 | D |
| Restricted Stock Service-Based UnitsF2 | — | Jan 4, 2017 | A | 3,807 | A | — | — | Common Stock | 3,807 | 3,807 | D |
Explanation of responses
- F1Award of restricted stock performance units pursuant to the Chemical Financial Corporation Stock Incentive Plan of 2015. Restricted stock units under this award are convertible into shares of common stock based on the attainment by the Company of certain financial performance criteria in the year ending December 31, 2018 and the reporting person's satisfaction of the service requirement in February 2019. Restricted stock units under this award are reported assuming shares of common stock will be issuable on a 1-for-1 basis, but restricted stock units may be convertible on a basis ranging from 0.5-for-1 to 1.5-for-1 depending on the actual performance of the Company.
- F2Award of restricted stock service-based units convertible into shares of common stock on a 1-for-1 basis as follows: 40% on August 31, 2019 and 60% on August 31, 2021. Dividend equivalents will accrue under this award.