SEC Form 4 · accession 0001088342-17-000046
COMPUTER TASK GROUP INC · CTG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John M Laubacker
Officer — Chief Financial Officer & SVP
Period of report
May 15, 2017
Accepted (ET)
May 15, 2017 · 5:45 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000023111
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 15, 2017 | A | 24,175 | $0.00 | A | 73,007 | 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) | $5.75 | May 15, 2017 | A | 24,900 | A | May 15, 2018 | May 15, 2027 | Common Stock | 24,900 | 24,900 | D |
Explanation of responses
- F1The reporting person received a total of 24175 shares of restricted stock. 16175 restricted shares vest over a three year period as follows: (i) 50% of the amount of the award will vest only if the thirty trading day average closing price of the Company's common stock equals or exceeds a 50% increase in its stock price in the three year period from the date of grant, and (ii) the remaining 50% of the amount of the award will vest only if the thirty trading day average closing price of the Company's common stock equals or exceeds a 100% increase in its stock price in the three year period from the date of grant. The remaining 8000 restricted shares as well as 24900 NQSOs were awarded on a one time basis to the reporting person upon his promotion to Senior Vice President and Chief Financial Officer and will vest in four equal annual increments beginning one year from the date of grant