SEC Form 4 · accession 0000706688-17-000042
AARON'S INC · AAN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven A Michaels
Officer — CFO, President Strategic Ops.
Period of report
Feb 24, 2017
Accepted (ET)
Feb 28, 2017 · 5:24 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000706688
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 24, 2017 | A | 23,814 | $27.18 | A | 75,161 | D | |
| Common StockF2 | Feb 24, 2017 | A | 10,140 | $27.18 | A | 85,301 | D | |
| Common Stock | holding | — | — | — | 1,484 | I | by 401(K) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F3 | $27.18 | Feb 24, 2017 | A | 31,140 | A | Mar 15, 2018 | Feb 24, 2027 | Common Stock | 31,140 | 31,140 | D |
Explanation of responses
- F1On February 24, 2017, the Compensation Committee of the Issuer's Board of Directors determined these performance shares were earned, based on the level of attainment of various financial performance goals. These shares, which were granted in February 2016, are expected to vest in three equal increments on each of March 15, 2017, 2018 and 2019, subject to the grant agreement between the Issuer and the Reporting Person.
- F2Restricted stock award which is expected to vest in three equal increments on each of March 15, 2018, 2019 and 2020, subject to the grant agreement between the Issuer and the Reporting Person.
- F3Stock option award is expected to vest in three equal increments on each of March 15, 2018, 2019 and 2020, subject to the grant agreement between the Issuer and the Reporting Person.