SEC Form 4 · accession 0001014108-15-000188
LAYNE CHRISTENSEN CO · LAYN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
J Michael Anderson
Officer — CFO and Senior Vice President
Period of report
Jul 20, 2015
Accepted (ET)
Jul 22, 2015 · 4:11 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000888504
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy) | $8.60 | Jul 20, 2015 | A | 10,000 | A | Jul 20, 2018 | Jul 20, 2025 | Common Stock | 10,000 | 10,000 | D |
| Restricted Stock UnitsF1,F2 | — | Jul 20, 2015 | A | 61,728 | A | — | — | Common Stock | 61,728 | 61,728 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of Layne common stock.
- F2The restricted stock units will vest in 25% increments upon the achievement of a price of $9.37, $10.40, $13 and $15 for Layne common stock. For vesting to occur, the stock price must remain at or above the specified price for at least ten consecutive trading days during the three-year period beginning on July 20, 2015 and ending on July 20, 2018. Mr. Anderson must also remain employed by Layne during the three-year period.