SEC Form 4 · accession 0001562180-18-001197
GIBRALTAR INDUSTRIES, INC. · ROCK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey J. Watorek
Officer — VP, Treasurer, Secretary
Period of report
Feb 21, 2018
Accepted (ET)
Feb 23, 2018 · 5:22 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000912562
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Performance Stock Units (April 2017)F1,F2 | Feb 21, 2018 | D | 1,396 | $0.00 | D | 627 | D | |
| Common Stock | holding | — | — | — | 2,632 | D | ||
| Common Stock (401k) | holding | — | — | — | 334 | I | 401k | |
| Discretionary RSU (Feb 2016) | holding | — | — | — | 1,200 | D | ||
| Discretionary RSU (May 2017) | holding | — | — | — | 2,000 | D | ||
| Performance Stock Units (April 2017) | holding | — | — | — | 2,023 | D | ||
| RSU (LTIP 4/3/2017) | holding | — | — | — | 506 | D | ||
| RSU (LTIP 9/4/2014) | holding | — | — | — | 299 | D | ||
| RSU (LTIP 9/4/2015) | holding | — | — | — | 618 | D | ||
| RSU (LTIP 9/6/2016) | holding | — | — | — | 426 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option (September 2008)F3 | $22.16 | holding | — | — | — | — | Sep 9, 2018 | Common Stock | 1,000 | 1,000 | D |
| Option (September 2009)F3 | $13.72 | holding | — | — | — | — | Sep 14, 2019 | Common Stock | 2,000 | 2,000 | D |
| Option (September 2010)F3 | $8.90 | holding | — | — | — | — | Sep 13, 2020 | Common Stock | 2,000 | 2,000 | D |
| Option (September 2011)F3 | $9.74 | holding | — | — | — | — | Sep 13, 2021 | Common Stock | 2,500 | 2,500 | D |
Explanation of responses
- F1Represents Performance Units which will be awarded to the Reporting Person under the Company 's Equity Incentive Plan upon achievement of the targeted return on invested capital for 2017. The maximum number of Performance Units which may be earned is two hundred percent (200%) of the Performance Units awarded for target level performance and the minimum number of Performance Units which may be earned is zero (0) Performance Units.
- F2Represents a decrease of the targeted number of Performance Units awarded to the Reporting Person on April 3, 2017 under the Company's 2015 Equity Incentive Plan as a result of the Company's achievement of a return on invested capital below the targeted return on invested capital for 2017. The Compensation Committee has reviewed and confirmed the Company's calculation of Return on Invested Capital for 2017 as compared to target and approved the resulting decrease in the number of Performance Units.
- F3Twenty-five percent (25%) of the total number of options granted vest and become exercisable on each anniversary grant date.