SEC Form 4 · accession 0001140361-18-000945
PHOTRONICS INC · PLAB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Peter S Kirlin
Officer — Chief Executive Officer · Director
Period of report
Jan 2, 2018
Accepted (ET)
Jan 4, 2018 · 8:51 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000810136
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jul 27, 2017 | J | 3,797 | $7.57 | A | 147,495 | D | |
| Common StockF3 | Jan 2, 2018 | A | 60,000 | $0.00 | A | 207,495 | D | |
| Common StockF4,F5 | Jan 3, 2018 | S | 2,500 | $8.60 | D | 204,995 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F6 | $8.60 | Jan 2, 2018 | A | 15,000 | A | — | Jan 2, 2028 | Common Stock | 15,000 | 15,000 | D |
Explanation of responses
- F1Represents 3,797 shares of Photronics, Inc. common stock purchased under the Company's Employee Stock Purchase Plan.
- F2The purchase price of the shares pursuant to the Employee Stock Purchase Plan is 85% of the fair market value (the "Closing Price") of the common stock of the Company on the purchase date of the applicable purchase period as defined in the offering plan documents.
- F325% of the restricted stock awards granted will vest on each anniversary date of the grant over 4 years.
- F4The sale reported on this Form 4 was effected pursuant to a 10b5-1 trading plan adopted by Mr. Kirlin.
- F5Net proceeds of sale to offset a tax liability from restricted stock vesting
- F625% of the stock options granted will vest on each anniversary date of the grant over 4 years.