SEC Form 4 · accession 0001179110-16-024466
HEXCEL CORP /DE/ · HXL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Charles Hill
Director
Period of report
May 11, 2016
Accepted (ET)
May 12, 2016 · 5:47 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000717605
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 11, 2016 | M | 5 | $0.00 | A | 1,188 | D | |
| Common Stock | holding | — | — | — | 3,500 | I | By David C. Hill Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3,F4 | $0.00 | May 11, 2016 | A | 5 | A | — | — | Common Stock | 5 | 5 | D |
| Restricted Stock UnitsF2,F5,F4 | $0.00 | May 11, 2016 | M | 5 | D | — | — | Common Stock | 5 | 0 | D |
Explanation of responses
- F1The Common Stock was acquired upon the conversion of Restricted Stock Units ("RSUs") in accordance with the terms of the underlying agreement. The RSUs were granted in a transaction exempt under Rule 16b.
- F2The underlying Restricted Stock Units ("RSUs") were granted in a transaction exempt under Rule 16b. Upon vesting, RSUs are converted into an equivalent number of shares of Common Stock that are distributed to the grantee.
- F3As previously reported, on May 7, 2015, the reporting person was granted 2,169 RSUs. Dividend equivalent rights accrue with respect to the unvested RSUs when and as dividends are paid on Hexcel common stock. The 5.39 dividend equivalent rights reflect dividend equivalent rights at $44.50 per RSU owned by the reporting person on the record date and credited to the reporting person's account on May 11, 2016.
- F4The underlying RSUs vested ratably over the one year following the grant date and converted into an equivalent number of shares of Common Stock on May 7, 2016, the first anniversary from the grant date. Vesting of the RSUs was also subject to certain acceleration and termination provisions.
- F5Fractional RSUs do not convert into shares of common stock and are cancelled at the time of conversion.