SEC Form 4 · accession 0001246360-16-004855
MCGRATH RENTCORP · MGRC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John P Skenesky
Officer — VP and Division Manager
Period of report
Feb 29, 2016
Accepted (ET)
Mar 2, 2016 · 8:49 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000752714
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Feb 29, 2016 | M | 1,440 | $0.00 | A | 5,347 | D | |
| Common Stock | Feb 29, 2016 | F | 472 | $24.60 | D | 4,875 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation RightF1 | $24.60 | Feb 29, 2016 | A | 38,100 | A | Mar 1, 2017 | Mar 1, 2023 | Common Stock | 38,100 | 38,100 | D |
| Restricted Stock UnitsF3 | $0.00 | Feb 29, 2016 | M | 1,440 | D | — | Feb 25, 2018 | Common Stock | 1,440 | 0 | D |
| Restricted Stock UnitsF5 | $0.00 | Feb 29, 2016 | J | 2,900 | D | — | Feb 25, 2020 | Common Stock | 2,900 | 0 | D |
Explanation of responses
- F120% vests on first anniversary of grant date; 5% vests each anniversary quarter thereafter.
- F2Shares acquired upon vesting of performance based RSUs. Each vested RSU converts into 200% of one share of McGrath RentCorp common stock.
- F3The RSUs vest 60% at the end of the three-year performance period if the performance goal is satisfied; then 20% vests each anniversary thereafter. The conversion price of the RSUs was based on the closing price of McGrath RentCorp common stock on February 29, 2016 and therefore such date is determined to be the date exercisable.
- F4Forfeiture of performance based RSUs awarded on 2/25/2013.
- F5The RSUs are subject to a performance based vesting component at the end of a three-year performance period.