SEC Form 4 · accession 0001179110-15-012553
G&K SERVICES INC · GK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Douglas A. Milroy
Officer — Chairman and CEO · Director
Period of report
Aug 20, 2015
Accepted (ET)
Aug 24, 2015 · 6:24 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000039648
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1,F2 | Aug 20, 2015 | A | 18,200 | — | A | 268,653 | D | |
| Class A Common StockF3 | Aug 20, 2015 | D | 24,000 | — | D | 244,653 | D | |
| Class A Common StockF4 | Aug 20, 2015 | F | 20,042 | $71.15 | D | 224,611 | D | |
| Class A Common StockF5 | Aug 21, 2015 | F | 1,677 | $70.30 | D | 222,934 | D | |
| Class A Common StockF6 | Aug 22, 2015 | F | 2,739 | $70.30 | D | 220,195 | D | |
| Class A Common StockF7 | Aug 23, 2015 | F | 2,055 | $70.30 | D | 218,140 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock OptionF8 | $71.15 | Aug 20, 2015 | A | 90,341 | A | — | Aug 20, 2025 | Class A Common Stock | 90,341 | 90,341 | D |
Explanation of responses
- F1Awards are subject to vesting in accordance with the terms of the company's plan.
- F2Grant of restricted stock pursuant to Section 16b-3.
- F3On August 23, 2012,Mr. Milroy was granted a Performance Stock Award under which he would earn restricted stock if certain performance conditions were met by the end of the company's fiscal 2015 year. Mr. Milroy originally reported the maximum 150,000 shares under the performance stock award. On August 20, 2015, based on the company's fiscal 2015 financial results, Mr. Milroy earned 126,000 of the shares; thus, he forfeited 24,000 shares for failure to meet performance conditions. Of the 126,000 shares earned, 33% immediately vested, 33% will vest at the end of the company's fiscal 2016 year, and 34% will vest at the end of the company's fiscal 2017 year.
- F4On August 20, 2015, an aggregate of 41,580 shares of Mr. Milroy's Performance Stock Award vested in accordance with their terms and the terms of the plan under which such shares were issued. Mr. Milroy elected to withhold an aggregate of 20,042 shares to pay the related taxes. As such, the number of shares actually issued was 21,538.
- F5On August 21, 2015, an aggregate of 3,479 restricted shares previously issued to Mr. Milroy vested in accordance with their terms and the terms of the plan under which such shares were issued. Mr. Milroy elected to withhold an aggregate of 1,677 shares to pay the related taxes. As such, the number of shares actually issued was 1,802.
- F6On August 22, 2015, an aggregate of 5,681 restricted shares previously issued to Mr. Milroy vested in accordance with their terms and the terms of the plan under which such shares were issued. Mr. Milroy elected to withhold an aggregate of 2,739 shares to pay the related taxes. As such, the number of shares actually issued was 2,942.
- F7On August 23, 2015, an aggregate of 4,262 restricted shares previously issued to Mr. Milroy vested in accordance with their terms and the terms of the plan under which such shares were issued. Mr. Milroy elected to withhold an aggregate of 2,055 shares to pay the related taxes. As such, the number of shares actually issued was 2,207.
- F8Subject 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.