SEC Form 4 · accession 0000086115-16-000211
SAFEGUARD SCIENTIFICS INC · SFE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen T Zarrilli
Officer — President & CEO · Director
Period of report
Jun 23, 2016
Accepted (ET)
Jun 27, 2016 · 11:39 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 23, 2016 | M | 51,666 | $7.65 | A | 129,955 | D | |
| Common Stock | Jun 23, 2016 | M | 1,342 | $7.41 | A | 131,297 | D | |
| Common Stock | Jun 23, 2016 | M | 1,458 | $7.41 | A | 132,755 | D | |
| Common Stock | Jun 23, 2016 | M | 62,500 | $7.65 | A | 195,255 | D | |
| Common Stock | Jun 23, 2016 | F | 91,297 | $12.795 | D | 103,958 | D | |
| Common Stock | holding | — | — | — | 5,490 | I | STZ DB Plan |
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 | $7.65 | Jun 23, 2016 | M | 51,666 | D | — | Jun 30, 2016 | Common Stock | 51,666 | 135,834 | D |
| Stock Option (right to buy)F2 | $7.41 | Jun 23, 2016 | M | 1,342 | D | — | Sep 30, 2016 | Common Stock | 1,342 | 0 | D |
| Stock Option (right to buy)F3 | $7.41 | Jun 23, 2016 | M | 1,458 | D | — | Sep 30, 2016 | Common Stock | 1,458 | 0 | D |
| Stock Option (right to buy)F4 | $7.65 | Jun 23, 2016 | M | 62,500 | D | — | Jun 30, 2016 | Common Stock | 62,500 | 0 | 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 $18.9288 per share; an additional 30% at $27.8796 per share; an additional 40% at $39.0684 per share; and the remaining 10% at $43.3476 (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 $18.9288 and between the other stock price vesting thresholds set forth above.
- F2On September 30, 2008, the reporting person was granted an option to purchase 4,375 shares of common stock, the vesting of which is subject to the satisfaction of certain corporate performance criteria. In accordance with the previously established criteria, 1,342 of such options have vested.
- F325% of the shares vested on September 30, 2009 and the remaining 75% vested in 36 equal monthly installments on the same date of each calendar month thereafter.
- F425% of the shares vested on June 30, 2009 and the remaining 75% vested in 36 equal monthly installments on the same date of each calendar month thereafter.