SEC Form 4 · accession 0000799288-18-000032
LANDS' END, INC. · LE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kelly Ritchie
Officer — SVP, Employee & Cust Services
Period of report
May 1, 2018
Accepted (ET)
May 3, 2018 · 5:04 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000799288
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 1, 2018 | M | 3,067 | $0.00 | A | 13,152 | D | |
| Common StockF1 | May 1, 2018 | M | 1,988 | $0.00 | A | 15,140 | D | |
| Common StockF1 | May 2, 2018 | M | 1,958 | $0.00 | A | 17,098 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | $0.00 | May 1, 2018 | M | 3,067 | D | — | — | Common Stock | 3,067 | 22,817 | D |
| Restricted Stock UnitsF1,F3 | $0.00 | May 1, 2018 | M | 1,988 | D | — | — | Common Stock | 1,988 | 20,829 | D |
| Restricted Stock UnitsF5,F1,F4 | $0.00 | May 2, 2018 | M | 1,958 | D | — | — | Common Stock | 1,958 | 18,871 | D |
Explanation of responses
- F1Each Restricted Stock Unit ("RSU") represented a contingent right to receive one share of common stock upon satisfaction of the vesting conditions.
- F2This RSU award was granted on May 1, 2015, with vesting in one installment on May 1, 2018 (100%).
- F3This RSU award was granted on May 1, 2017, with vesting in three annual installments on May 1, 2018 (25%), May 1, 2019 (25%) and May 1, 2020 (50%).
- F4This RSU award was granted on May 2, 2016, with vesting in three annual installments on May 2, 2017 (25%), May 2, 2018 (25%) and May 2, 2019 (50%).
- F5Of the total number of RSUs, 8,995 RSUs will vest in three annual installments on March 26, 2019 (25%), March 26, 2020 (25%) and March 26, 2021 (50%); 1,988 RSUs will vest May 1, 2019; 3,974 RSUs will vest on May 1, 2020; and 3,914 RSUs will vest on May 2, 2019; subject in each case to the satisfaction of vesting conditions, including continued employment.