SEC Form 4 · accession 0001227826-15-000001
CAPSTEAD MORTGAGE CORP · CMO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert R Spears Jr.
Officer — Executive Vice President
Period of report
Jan 2, 2015
Accepted (ET)
Jan 6, 2015 · 3:21 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000766701
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitsF1 | — | Jan 2, 2015 | A | 65,128 | A | — | — | Common Stock | — | 128,945 | D |
Explanation of responses
- F1Performance Units ("Units") issued by the Issuer to the Reporting Person. Such Units are convertible into common stock of the Issuer after December 31, 2017 and before March 15, 2018, with the conversion factor determined fomulaically, based on achievement of stated performance criteria. The Units target a one-for-one conversion ratio into the common stock of the Issuer; however, the actual conversion ratio will be dependent on the achievement of the performance objectives outlines in the Issuer's 2014 Long-Term Award criteria. The Units could expire without converting into any shares of common stock of the Issuer or could be convertible into as many as 200% of the number of Units granted to the Reporting Person. The Units will terminate on December 31, 2017 if the minimum performance criteria are not achieved.