SEC Form 4 · accession 0001225208-15-010204
CYTEC INDUSTRIES INC/DE/ · CYT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Carol P Lowe
Director
Period of report
Apr 16, 2015
Accepted (ET)
Apr 20, 2015 · 3:26 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000912513
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Apr 16, 2015 | A | 1,552 | $54.78 | A | 10,286 | D | |
| Common StockF2 | Apr 20, 2015 | J | 2,374 | $0.00 | D | 7,912 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Deferred Stock AwardF2 | — | Apr 20, 2015 | J | 2,374 | A | — | — | Common Stock | 2,374 | 41,008 | D |
Explanation of responses
- F1Received an award of Restricted Stock (i.e. shares of Common Stock, restrictions on which lapse upon the stock becoming non-forfeitable) as part of his/her annual retainer for serving on Cytec's Board. The Restricted Stock becomes non-forfeitable on the third anniversary of the grant of the award, or immediately upon a Change-in-Control (as defined in 1993 Stock Award and Incentive Plan). If the Director's service terminates prior to the award becoming non-forfeitable (except in certain circumstances set forth in the restricted stock award letter), the award reverts back to Cytec.
- F2This transaction consists of 2,374 shares of restricted stock which were scheduled to vest on April 19, 2015. The shares were cancelled and replaced by a deferred stock award of equal amount at no additional consideration. Deferred stock awards are paid for no additional consideration in the form of shares of common stock following termination of service as a director in accordance with the election made by the director.