SEC Form 4 · accession 0000905729-17-000078
CHEMICAL FINANCIAL CORP · CHFC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David B Ramaker
Officer — CEO & President · Director
Period of report
Feb 21, 2017
Accepted (ET)
Feb 23, 2017 · 2:49 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000019612
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF1 | $53.72 | Feb 21, 2017 | A | 24,299 | A | — | Feb 22, 2027 | Common Stock | 24,299 | 24,299 | D |
| Restricted Stock Performance UnitsF2 | — | Feb 21, 2017 | A | 9,770 | A | — | — | Common Stock | 9,770 | 9,770 | D |
| Restricted Stock Service-Based UnitsF3 | — | Feb 21, 2017 | A | 1,515 | A | — | — | Common Stock | 1,515 | 1,515 | D |
Explanation of responses
- F1Vests in five equal annual installments beginning on February 21, 2018.
- F2Award 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, 2019 and the reporting person's satisfaction of the service requirement in February 2020. 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.
- F3Award of restricted stock service-based units convertible into shares of common stock on a 1-for-1 basis at the end of a 5-year vesting period. Dividend equivalents will accrue under this award.