SEC Form 4 · accession 0001626624-16-000054
ESCALADE INC · ESCA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen Wawrin
Officer — Chief Financial Officer
Period of report
Feb 26, 2016
Accepted (ET)
Mar 1, 2016 · 6:54 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000033488
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 27, 2016 | M | 667 | — | A | 667 | D | |
| Common StockF2 | Feb 29, 2016 | M | 1,500 | $6.07 | A | 2,167 | 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 UnitsF1,F4,F3 | — | Feb 27, 2016 | M | 667 | D | — | — | Common Stock | 667 | 1,333 | D |
| Stock Options | $6.07 | Feb 29, 2016 | M | 1,500 | D | Mar 1, 2015 | Mar 1, 2016 | Common Stock | 1,500 | 0 | D |
| Restricted Stock UnitsF4,F5 | — | Feb 26, 2016 | A | 4,100 | A | — | — | Common Stock | 4,100 | 4,100 | D |
Explanation of responses
- F1Restricted Stock Units (RSUs) converted into common stock on a one-for-one basis.
- F2Shares issued pursuant to the exercise of stock options granted under the Escalade, Incorporated 2007 Incentive Plan.
- F3On February 27, 2014, the reporting person was granted 2,000 RSUs, which vested one third on February 27, 2016, and were settled in shares of common stock as reported in Table I of this Form 4. The remaining 1,333 RSUs will vest one half on February 27, 2017 and one half on February 27, 2018 provided the reporting person remains employed by the company as of each such date. The vesting of these RSUs also were subject to the company's common stock achieving certain market performance tests established by the Compensation Committee of the company's Board of Directors, which tests were satisfied.
- F4Each RSU represents a right to receive one share of ESCA common stock granted pursuant to the Escalade, Incorporated 2007 Incentive Plan.
- F5On February 26, 2016, the reporting person was granted 4,100 RSUs which will vest one third on each of February 26, 2018, February 26, 2019, and February 26, 2020 provided that the reporting person is still employed by the company as of such date and the company's common stock has achieved certain market performance tests. The market performance tests have been established by the Compensation Committee of the company's Board of Directors. Vested shares will be delivered to the reporting person at such time unless the reporting person has deferred receipt.