SEC Form 4 · accession 0001179110-15-012550
G&K SERVICES INC · GK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin A Fancey
Officer — President, G&K Services Canada
Period of report
Aug 20, 2015
Accepted (ET)
Aug 24, 2015 · 6:08 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000039648
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF1,F2 | — | Aug 20, 2015 | A | 3,780 | A | — | — | Class A Common Stock | 3,780 | 3,780 | D |
| Employee Stock OptionF3 | $71.15 | Aug 20, 2015 | A | 12,509 | A | — | Aug 20, 2025 | Class A Common Stock | 12,509 | 12,509 | D |
Explanation of responses
- F1Grant of a restricted stock unit subject to Section 16b-3, the settlement of which will be paid in cash upon vesting.
- F2The restricted stock units vest in equal installments over a period of three years. On each vesting date, the company will pay to Mr. Fancey a cash amount equal to the fair market value of one share of the company's common stock on such vesting date times the number of restricted stock units that vested, and such vested restricted stock units will thereafter be cancelled and no further amounts will be paid with respect to them. Additionally, when cash dividends are paid on the company's common stock, Mr. Fancey will be paid an amount equal to the cash dividend paid on a single share of common stock multiplied by the number of restricted stock units not yet cancelled or forfeited that are held by Mr. Fancey on the record date of the dividend payment.
- F3Subject to the terms of the company's plan, vests in equal increments over a three year period, commencing on the first anniversary of the date of grant.