SEC Form 4 · accession 0000086115-15-000045
SAFEGUARD SCIENTIFICS INC · SFE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brian J Sisko
Officer — COO, EVP & Managing Director
Period of report
Jun 25, 2015
Accepted (ET)
Jun 26, 2015 · 8:57 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000086115
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jun 25, 2015 | M | 25,000 | $12.636 | A | 81,985 | D | |
| Common Stock | Jun 25, 2015 | F | 16,276 | $19.41 | D | 65,709 | 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 (right to buy)F1 | $12.636 | Jun 25, 2015 | M | 25,000 | D | — | Aug 20, 2015 | Common Stock | 25,000 | 100,000 | D |
Explanation of responses
- F1Option features market-based vesting so that option only becomes exercisable upon sustained improvement in the trading price of the Issuer's common stock in the following increments: 20% at $3.1548 per share; an additional 30% at $4.6466 per share; an additional 40% at $6.5114 per share; and the remaining 10% at $7.2246 (based on the average daily closing price of the Issuer's common stock on the NYSE for any 20 consecutive trading days preceding a vesting date), with pro rata vesting based on sustained improvement in the trading price of the Issuer's common stock between the exercise price and $3.1548 and between the other stock price vesting thresholds set forth above.