SEC Form 4 · accession 0000799288-18-000036
LANDS' END, INC. · LE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Peter L Gray
Officer — EVP, CAO & General Counsel
Period of report
May 8, 2018
Accepted (ET)
May 9, 2018 · 5:03 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 8, 2018 | M | 5,681 | $0.00 | A | 10,731 | D | |
| Common StockF2 | May 8, 2018 | F | 1,818 | $19.35 | D | 8,913 | 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 UnitsF4,F1,F3 | $0.00 | May 8, 2018 | M | 5,681 | D | — | — | Common Stock | 5,681 | 36,984 | 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.
- F2Represents shares surrendered to the issuer for payment of the reporting person's tax withholding obligation incurred in connection with the vesting of RSUs on May 8, 2018.
- F3This RSU award was granted on May 8, 2017, with vesting in four annual installments on May 8, 2018 (25%), May 8, 2019 (25%), May 8, 2020 (25%), and May 8, 2021 (25%).
- F4Of the total number of RSUs, 11,415 RSUs will vest in three annual installments on March 26, 2019 (25%), March 26, 2020 (25%) and March 26, 2021 (50%); 2,841 RSUs will vest on May 1, 2019; 5,682 RSUs will vest on May 1, 2020; 5,681 RSUs will vest on May 8, 2019; 5,681 RSUs will vest on May 8, 2020; and 5,684 RSUs will vest on May 8, 2021; subject in each case to the satisfaction of vesting conditions, including continued employment.