SEC Form 4 · accession 0001094891-17-000074
CPI AEROSTRUCTURES INC · CVU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Vincent Palazzolo
Officer — Chief Financial Officer
Period of report
Mar 9, 2017
Accepted (ET)
Mar 13, 2017 · 3:20 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000889348
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 9, 2017 | D | 2,892 | $0.00 | D | 37,007 | D | |
| Common StockF2 | Mar 9, 2017 | F | 1,137 | $7.30 | D | 35,870 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents the forfeiture of performance-based restricted stock granted to the reporting person on August 2, 2016 that were eligible to vest based on certain financial performance objectives. Upon grant, the target vesting amount was reported in Table I of Form 4. On March 9, 2017, the Company determined that, based on the Company's performance over the applicable performance period, 2,892 securities would be forfeited.
- F2Represents the shares withheld to satisfy tax obligations.