SEC Form 4 · accession 0001140361-17-000845
PENTAIR plc · PNR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ronald Merriman
Director
Period of report
Jan 3, 2017
Accepted (ET)
Jan 5, 2017 · 7:05 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000077360
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Shares - Restricted Stock UnitsF2 | Jan 3, 2017 | A | 1,122 | $0.00 | A | 1,122 | D | |
| Common SharesF2 | Jan 4, 2017 | F | 548 | $58.15 | D | 16,338 | D | |
| Common Shares | Jan 4, 2017 | M | 10,000 | $32.73 | A | 26,338 | D | |
| Common SharesF5 | Jan 4, 2017 | S | 10,000 | $57.87 | D | 16,338 | D | |
| Common Shares - Deferral PlanF6,F7 | holding | — | — | — | 301 | I | Plan Agent |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nonqualified Stock Option (right to buy)F9 | $57.95 | Jan 3, 2017 | A | 5,265 | A | Jan 3, 2018 | Jan 3, 2027 | Common Shares | 5,265 | 5,265 | D |
| Nonqualified Stock Option (right to buy)F10 | $32.73 | Jan 4, 2017 | M | 10,000 | D | — | Feb 26, 2017 | Common Shares | 10,000 | 0 | D |
| Phantom Stock Units (Deferred Compensation)F6,F7,F11,F12 | — | holding | — | — | — | — | — | Common Shares | 123 | 123 | I |
Explanation of responses
- F1Restricted stock units granted pursuant to and subject to a vesting condition of the Pentair plc 2012 Stock and Incentive Plan. Each restricted stock unit represents a right to receive one share of Pentair plc common shares upon vesting.
- F10The options are vested and exercisable.
- F11Phantom stock units convert into common shares on a one-for-one basis.
- F12Settlement of phantom stock units will be in Pentair plc common shares in accordance with reporting person's irrevocable election.
- F2End-of-period holdings reflect the vesting of restricted stock units that were previously reported.
- F3Shares surrendered to pay taxes applicable to vesting of restricted stock units.
- F4The reported transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person for financial planning purposes in connection with stock options that will expire on February 26, 2017.
- F5The price in Column 4 is a weighted average price. The prices actually received ranged from $57.75 to $58.00. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.
- F6End-of-period holdings include shares acquired under a dividend reinvestment plan in exempt transactions not required to be reported pursuant to Section 16(a).
- F7Phantom Stock Units previously held in the reporting person's account under the Equity Compensation Plan were transferred to the reporting person's account under the Deferred Compensation Plan, due to the plan administrator's account recordkeeping, in an exempt transaction not required to be reported pursuant to Section 16(a).
- F8Nonqualified stock option granted under the Pentair plc 2012 Stock and Incentive Plan.
- F9One third of the stock options become exercisable on the first, second and third anniversary of the grant.