SEC Form 4 · accession 0001127602-17-020904
KAMAN Corp · KAMN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gregory L. Steiner
Officer — Exec VP, Kaman Corp; Pres, KAG
Period of report
Jun 6, 2017
Accepted (ET)
Jun 8, 2017 · 4:17 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000054381
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Kaman Common StockF1,F2 | Jun 6, 2017 | A | 1,506 | $0.00 | A | 28,283 | 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 UnitsF3,F4 | — | holding | — | — | — | — | — | Kaman Common Stock | 3,000 | 3,000 | D |
| Stock Options (Right to Buy)F5 | $21.595 | holding | — | — | — | — | — | Kaman Common Stock | 20,000 | 20,000 | D |
| Stock Options (Right to Buy)F5 | $26.07 | holding | — | — | — | — | — | Kaman Common Stock | 18,490 | 18,490 | D |
| Stock Options (Right to Buy)F5 | $16.35 | holding | — | — | — | — | — | Kaman Common Stock | 8,010 | 8,010 | D |
Explanation of responses
- F1Shares represent a long-term incentive plan payout under the Kaman Corporation 2013 Management Incentive Plan for the three-year performance period ended December 31, 2016. The number of shares payable in respect of the payout were fixed on June 6, 2017, but the reporting person must be employed with the Company until attaining age 62 in order to have a vested right to receive the shares.
- F2Includes acquisition of approximately 7.005 shares through 6/6/2017 by the reporting person pursuant to the periodic, automatic reinvestment of dividends paid on the Corporation's common stock under a program maintained by the reporting person's brokerage firm which is similar to the Corporation's Dividend Reinvestment Plan.
- F3Each restricted stock unit represents a contingent right to receieve one share of Kaman common stock.
- F4The restricted stock units vest in full on March 23, 2019, which is the date of the reporting person's 62nd birthday. Vested shares will be delivered to the reporting person on the later of six months and one day following the reporting person's separation from service from the Company, or January 2nd of the year following such separation from service.
- F5Exercisable at the rate of 20% per year, generally beginning one year after grant date; expires ten (10) years after grant. All options and stock appreciation rights are issued under the Corporation's 16b-3 qualified Stock Incentive Plan, including options issued under predecessor plan. The Plans include a feature which permits the exercise price for an option to be paid by withholding a portion of the shares otherwise issuable upon exercise.