SEC Form 4 · accession 0001140361-17-010469
EASTERN CO · EML
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
August M. Vlak
Officer — President & CEO
Period of report
Mar 2, 2017
Accepted (ET)
Mar 3, 2017 · 2:13 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000031107
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation RightsF1 | $19.10 | Mar 2, 2017 | A | 20,000 | A | — | Mar 2, 2022 | Common Stock | 20,000 | 20,000 | D |
Explanation of responses
- F1On March 2, 2017, 20,000 stock appreciation rights ("SARs") were granted to the reporting person pursuant to the terms of The Eastern Company 2010 Executive Stock Incentive Plan and a stock appreciation rights agreement, at an exercise price of $19.10 per SAR. These SARs shall vest and become exercisable as follows (provided the reporting person remains an employee of the issuer on each applicable vesting date, and the issuer meets certain performance thresholds prescribed in the stock appreciation rights agreement): 6,667 of the granted SARs vest on February 1, 2018; 6,667 of the granted SARs vest on February 1, 2019; and 6,666 of the granted SARs vest on February 1, 2020.