SEC Form 4 · accession 0001437749-15-017052
PATRICK INDUSTRIES INC · PATK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Todd M Cleveland
Officer — President & CEO · Director
Period of report
Sep 4, 2015
Accepted (ET)
Sep 9, 2015 · 9:41 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000076605
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Sep 4, 2015 | M | 56,528 | $18.45 | A | 560,688 | D | |
| Common StockF2,F1 | Sep 4, 2015 | S | 56,528 | $44.3528 | D | 504,160 | D | |
| Common StockF1 | Sep 8, 2015 | M | 43,472 | $18.45 | A | 547,632 | D | |
| Common StockF3,F1 | Sep 8, 2015 | S | 43,472 | $44.6672 | D | 504,160 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock OptionsF4 | $18.45 | Sep 4, 2015 | M | 56,528 | D | — | Dec 18, 2022 | Common Stock | 56,528 | 243,472 | D |
| Common Stock OptionsF4 | $18.45 | Sep 8, 2015 | M | 43,472 | D | — | Dec 18, 2022 | Common Stock | 43,472 | 200,000 | D |
Explanation of responses
- F1The Common Stock holding reported herein has been adjusted to reflect a three-for-two stock split paid by the Issuer on May 29, 2015.
- F2The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $44.25 to $44.45, inclusive. The reporting person undertakes to provide to Patrick Industries, Inc., any security holder of Patrick Industries, Inc., or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the price range set forth in this footnote.
- F3The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $44.35 to $45.31, inclusive. The reporting person undertakes to provide to Patrick Industries, Inc., any security holder of Patrick Industries, Inc., or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the price range set forth in this footnote.
- F4Common stock options granted on December 18, 2013 of which one-third of the option awards vested on the first anniversary of the grant date or December 18, 2014. The remaining options will vest on a pro-rata basis upon the second and third anniversaries of the grant date, with full vesting at the end of three years, and expire after nine years. The 300,000 total stock options originally granted reflect the three-for-two stock split paid on May 29, 2015 with a post stock-split basis exercise price of $18.45 per share.