SEC Form 4 · accession 0001179110-17-002588
HEXCEL CORP /DE/ · HXL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Timothy Swords
Officer — President, Industrial
Period of report
Feb 15, 2017
Accepted (ET)
Feb 16, 2017 · 6:57 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000717605
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 UnitsF1,F2,F3 | — | Feb 15, 2017 | A | 1 | A | — | — | Common Stock | 1 | 361 | D |
| Restricted Stock UnitsF1,F4,F3 | — | Feb 15, 2017 | A | 2 | A | — | — | Common Stock | 2 | 849 | D |
Explanation of responses
- F1The 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.
- F2As previously reported, on January 26, 2016, the reporting person was granted 1,260 RSUs, 425 of which vested on January 26, 2017 and converted into shares of common stock on such date. Dividend equivalent rights accrue with respect to the unvested RSUs when and as dividends are paid on Hexcel common stock. The 0.75 dividend equivalent rights reflect dividend equivalent rights at $53.08 per RSU owned by the reporting person on the record date and credited to the reporting person's account on February 15, 2017.
- F3The underlying RSUs vest and convert into an equivalent number of shares of Common Stock in equal installments on the first three anniversaries from the grant date. Vesting of the RSUs is also subject to certain acceleration and termination provisions.
- F4As previously reported, on January 27, 2015, the reporting person was granted 1,067 RSUs, 358 of which vested on January 27, 2016 and converted into shares of common stock on such date, and 361 of which vested on January 27, 2017 and converted into shares of common stock on such date. Dividend equivalent rights accrue with respect to the unvested RSUs when and as dividends are paid on Hexcel common stock. The 1.76 dividend equivalent rights reflect dividend equivalent rights at $53.08 per RSU owned by the reporting person on the record date and credited to the reporting person's account on February 15, 2017.