SEC Form 5 · accession 0001567619-19-001493
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
Dec 31, 2018
Accepted (ET)
Jan 23, 2019 · 3:52 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 StockF1 | Dec 31, 2018 | A | 140 | — | A | 11,016 | 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 | 0 | A | — | Mar 2, 2022 | Common Stock | 20,000 | 20,000 | D |
| Stock Appreciation RightsF3 | $24.90 | Feb 7, 2018 | A | 0 | A | — | Feb 7, 2023 | Common Stock | 20,000 | 40,000 | D |
Explanation of responses
- F1140 shares acquired at various prices for the period 8/15/2018 through 12/31/2018 under The Eastern Company Dividend Investment Plan and The Eastern Company Employee Stock Purchase Plan.
- F2On 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 described 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.
- F3On February 7, 2018, 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 $24.90 per SAR. These SARs shall vest and become exercisable on February 1, 2021, provided the reporting person remains an employee of the issuer on the vesting date and the issuer achieves its Book Value Target at the close of December FY 2020.