SEC Form 4 · accession 0000849146-16-000139
Lifevantage Corp · LFVN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Darren Jay Jensen
Officer — Chief Executive Officer
Period of report
Jan 4, 2016
Accepted (ET)
Jan 4, 2016 · 4:28 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000849146
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 Stock UnitsF1 | — | Jan 4, 2016 | A | 51,000 | A | — | Dec 31, 2016 | Common Stock | 51,000 | 51,000 | D |
| Performance Stock UnitsF2 | — | Jan 4, 2016 | A | 51,000 | A | — | Dec 31, 2017 | Common Stock | 51,000 | 51,000 | D |
| Performance Stock UnitsF3 | — | Jan 4, 2016 | A | 51,000 | A | — | Dec 31, 2018 | Common Stock | 51,000 | 51,000 | D |
Explanation of responses
- F1Subject generally to the reporting person's continued service with the issuer, each Performance Stock Unit represents a contingent right for the reporting person to receive, within thirty days after the end of the Performance Period, a distribution of common shares of the issuer equal to 0% to 200% of the reported target number of Performance Stock Units. The actual number of shares distributed will be based on the issuer's total stockholder return (TSR) performance during the performance period of 1/1/2016 through the earlier of 12/31/2016 or a change in control of the issuer ("Performance Period"). The vesting for 50% of the target Performance Stock Units is based upon the issuer's absolute TSR for the Performance Period as compared to a matrix of fixed numeric values and the vesting for the other 50% of the target Performance Stock Units is based upon a relative comparison of the issuer's TSR to the Vanguard Russell 2000 exchange traded fund TSR for the Performance Period.
- F2The vesting and distribution conditions for the reported target Performance Stock Units are the same as described under footnote (1), except that the Performance Period is 1/1/2017 through the earlier of 12/31/2017 or a change in control of the issuer.
- F3The vesting and distribution conditions for the reported target Performance Stock Units are the same as described under footnote (1), except that the Performance Period is 1/1/2018 through the earlier of 12/31/2018 or a change in control of the issuer.