SEC Form 4 · accession 0001140361-15-014272
FREDS INC · FRED
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bruce A Efird
Officer — former CEO
Period of report
Apr 2, 2015
Accepted (ET)
Apr 3, 2015 · 10:28 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000724571
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1 | Apr 2, 2015 | J | 41,203 | $0.00 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options on Class A Common StockF2 | $13.02 | Apr 2, 2015 | S | 22,297 | D | Mar 21, 2012 | Apr 21, 2016 | Class A Common Stock | 22,297 | 250,000 | D |
| Options on Class A Common StockF3 | $13.64 | Apr 2, 2015 | J | 250,000 | D | Jan 29, 2017 | Aug 23, 2017 | Class A Common Stock | 250,000 | 0 | D |
Explanation of responses
- F1Cancelation of unvested restricted stock upon employee termination of service.
- F2Cashless exercise of 22,297 options with strike price of $13.02 for an average sales price of $16.99. Sales prices ranged from $16.85 to $17.18. The options were granted on 3/21/2011 and vested ratably over a three year period.
- F3Cancelation of unvested stock options upon employee termination of service. Options granted on 8/24/2012. Vesting was based upon achievement of performance metrics, which were not met.