SEC Form 4 · accession 0001567619-18-004248
TANDY LEATHER FACTORY INC · TLF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Janet A Carr
Officer — CEO · Director
Period of report
Oct 2, 2018
Accepted (ET)
Oct 17, 2018 · 6:09 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000909724
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RESTRICTED STOCK UNITF1 | $0.00 | Oct 2, 2018 | A | 460,000 | A | Oct 2, 2019 | Oct 2, 2023 | COMMON STOCK, PAR VALUE $0.0024 | 460,000 | 460,000 | D |
| RESTRICTED STOCK UNITF2,F3 | $0.00 | Oct 2, 2018 | A | 184,000 | A | Dec 31, 2019 | — | COMMON STOCK, PAR VALUE $0.0024 | 184,000 | 644,000 | D |
Explanation of responses
- F1THE RESTRICTED STOCK UNITS WERE ACQUIRED PURSUANT TO A STAND ALONE RESTRICTED STOCK UNIT AGREEMENT. THE AWARD VESTS IN FIVE EQUAL ANNUAL INSTALLMENTS BEGINNING OCTOBER 2, 2019.
- F2THE RESTRICTED STOCK UNITS WERE ACQUIRED PURSUANT TO A STAND ALONE RESTRICTED STOCK UNIT AGREEMENT. 50% OF THE AWARD VESTS WHEN TLF'S ANNUAL OPERATING INCOME EXCEEDS $12 MILLION FOR TWO CONSECUTIVE YEARS, WHILE THE OTHER 50% OF THE AWARD VESTS WHEN TLF'S ANNUAL OPERATING INCOME EXCEEDS $14 MILLION.
- F3THESE RESTRICTED STOCK UNITS DO NOT EXPIRE.