SEC Form 4 · accession 0000086115-15-000067
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
Aug 17, 2015
Accepted (ET)
Aug 18, 2015 · 2:56 pm 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 | Aug 17, 2015 | M | 9,444 | $12.636 | A | 75,153 | D | |
| Common Stock | Aug 17, 2015 | M | 15,556 | $12.636 | A | 90,709 | D | |
| Common Stock | Aug 17, 2015 | F | 17,188 | $18.38 | D | 73,521 | 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 | Aug 17, 2015 | M | 9,444 | D | — | Aug 20, 2015 | Common Stock | 9,444 | 90,556 | D |
| Stock Option (right to buy)F2 | $12.636 | Aug 17, 2015 | M | 15,556 | D | — | Aug 20, 2015 | Common Stock | 15,556 | 26,110 | 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.
- F2Option vests 25% on the first anniversary of the grant date and in 36 equal monthly installments on the same date of each calendar month thereafter.