SEC Form 4 · accession 0001140361-17-041795
EASTERN CO · EML
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John L Sullivan III
Officer — Vice President & CFO
Period of report
Nov 9, 2017
Accepted (ET)
Nov 9, 2017 · 3:42 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 | Nov 9, 2017 | P | 1,300 | $25.75 | A | 28,194 | D | |
| Common Stock | Nov 9, 2017 | P | 100 | $26.00 | A | 28,294 | D | |
| Common StockF1 | Nov 9, 2017 | J | 399 | — | A | 28,693 | 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 RightsF2 | $19.10 | Mar 2, 2017 | A | 10,000 | A | — | Mar 2, 2022 | Common Stock | 10,000 | 10,000 | D |
Explanation of responses
- F1399 shares acquired at various prices for the period 1/1/2017 through 9/15/2017 under The Eastern Company Dividend Reinvestment Plan and The Eastern Company Employee Stock Purchase Plan.
- F2On March 2, 2017, 10,000 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): 3,334 of the granted SARs vest on February 1, 2018; 3,333 of the granted SARs vest on February 1, 2019; and 3,333 of the granted SARs vest on February 1, 2020.