SEC Form 4 · accession 0000849213-16-000151
PLUM CREEK TIMBER CO INC · PCL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David W Lambert
Officer — SVP & CFO
Period of report
Feb 2, 2016
Accepted (ET)
Feb 4, 2016 · 4:35 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000849213
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 2, 2016 | A | 28,500 | $0.00 | A | 78,398 | D | |
| Common Stock | Feb 3, 2016 | F | 1,881 | $40.53 | D | 76,517 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (2010 SIP)F2 | $35.22 | holding | — | — | — | — | Feb 8, 2020 | Common Stock | 25,000 | 25,000 | D |
| Stock Option (2011 SIP)F2 | $41.55 | holding | — | — | — | — | Feb 7, 2021 | Common Stock | 30,000 | 30,000 | D |
Explanation of responses
- F1Represents Restricted Stock Units (RSUs) granted under the Issuer's stock incentive plan. The RSUs vest annually over a four-year period in equal installments. Upon vesting, the RSUs are paid to the Reporting Person in an equal number of shares of the Issuer's common stock. During the vesting period, the Reporting Person is entitled to receive cash payments equal to the amount of any dividend declared and paid on the Issuer's common stock multiplied by the number of RSUs then held by the Reporting Person.
- F2The option granted under the Issuer's stock incentive plan provides the right to purchase common stock at the fair market value thereof on the date of grant and becomes exercisable after vesting. The option vests in four equal annual installments beginning one year after the date of grant.