SEC Form 4 · accession 0001437749-16-028914
PATRICK INDUSTRIES INC · PATK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Todd M Cleveland
Officer — CEO · Director
Period of report
Mar 30, 2016
Accepted (ET)
Apr 1, 2016 · 9:00 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 Stock | Mar 30, 2016 | M | 15,000 | $18.45 | A | 424,898 | D | |
| Common StockF2 | Mar 30, 2016 | S | 15,000 | $48.3645 | D | 409,898 | D | |
| Common Stock | Mar 30, 2016 | M | 25,000 | $18.45 | A | 434,898 | D | |
| Common Stock | Mar 30, 2016 | M | 25,000 | $22.13 | A | 459,898 | D | |
| Common Stock | Mar 30, 2016 | M | 25,000 | $26.56 | A | 484,898 | D | |
| Common Stock | Mar 30, 2016 | M | 25,000 | $31.87 | A | 509,898 | D | |
| Common Stock | Mar 30, 2016 | D | 50,994 | $48.54 | D | 458,904 | D | |
| Common Stock | Mar 30, 2016 | F | 22,173 | $48.54 | D | 436,731 | D | |
| Common Stock | holding | — | — | — | 15,000 | I | Held by family members living in household |
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 | Mar 30, 2016 | M | 15,000 | D | — | Dec 18, 2022 | Common Stock | 15,000 | 185,000 | D |
| Stock Appreciation RightsF5,F6 | $18.45 | Mar 30, 2016 | M | 25,000 | D | — | Dec 18, 2022 | Common Stock | 25,000 | 24,999 | D |
| Stock Appreciation RightsF5,F6 | $22.13 | Mar 30, 2016 | M | 25,000 | D | — | Dec 18, 2022 | Common Stock | 25,000 | 24,999 | D |
| Stock Appreciation RightsF5,F6 | $26.56 | Mar 30, 2016 | M | 25,000 | D | — | Dec 18, 2022 | Common Stock | 25,000 | 24,999 | D |
| Stock Appreciation RightsF5,F6 | $31.87 | Mar 30, 2016 | M | 25,000 | D | — | Dec 18, 2022 | Common Stock | 25,000 | 24,999 | D |
Explanation of responses
- F1The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 11, 2016.
- F2The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.25 to $48.50, 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.
- F3Reflects exercise of the stock appreciation rights reported on Table II of this Form 4.
- F4Common stock options granted on December 18, 2013, of which 100,000 option awards vested on December 18, 2014 and 100,000 option awards vested on December 18, 2015. The remaining options will vest on December 18, 2016.
- F5Reflects stock appreciation rights that were granted on December 18, 2013.
- F6The stock appreciation rights exercised on March 30, 2016 became exercisable on December 18, 2015 and 24,999 additional stock appreciation rights will become exercisable on December 18, 2016.