SEC Form 4 · accession 0000950117-16-001422
CURTISS WRIGHT CORP · CW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Charles Adams
Officer — Chairman & CEO · Director
Period of report
Oct 13, 2016
Accepted (ET)
Oct 13, 2016 · 4:59 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000026324
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Oct 12, 2016 | M | 53,130 | $87.26 | A | 113,161 | D | |
| Common StockF4 | Oct 13, 2016 | S | 25,655 | $86.26 | D | 87,506 | 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 UnitF6,F5 | $39.26 | Oct 12, 2016 | M | 53,130 | D | Oct 12, 2016 | Oct 12, 2016 | Common Stock | 53,130 | 35,094 | D |
Explanation of responses
- F1These shares were acquired through the vesting of two special retention restricted stock unit grants under the Company's 2005 Long Term Incentive Plan. The first award for 31,948 time-based restricted stock units was granted on September 26, 2006, and the second award was for 21,182 time-based restricted stock units was granted on September 24, 2007. Both awards cliff-vested on October 12, 2016.
- F2Based on October 12, 2016 closing price on the New York Stock Exchange for Curtiss-Wright Common Stock, the date the restricted stock units vested.
- F3Shares were sold in compliance with the Company's share ownership guidelines whereby the executive may sell a portion of his vesting award to cover any tax obligations associated with the vesting of the award. The Reporting Person is and remains in compliance with the share ownership guidelines.
- F4Weighted average selling price of shares sold on October 13, 2016.
- F5Reporting person received two separate special time-based restricted stock unit awards, each worth $1,000,000.00 at the time of the grant. Price reflects the weighted average price of the share units granted on September 26, 2006 and September 24, 2007.
- F6No price on the date of issue, stock unit award having been granted as an employee benefit transaction.