SEC Form 4 · accession 0001562180-19-001635
GIBRALTAR INDUSTRIES, INC. · ROCK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Cherri Syvrud
Officer — Senior Vice President
Period of report
Mar 1, 2019
Accepted (ET)
Mar 5, 2019 · 2:57 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 |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 1, 2019 | A | 506 | $0.00 | A | 1,534 | D | |
| Common StockF2 | Mar 1, 2019 | F | 172 | $40.56 | D | 1,362 | D | |
| Performance Stock Unit (March 2019)F3 | Mar 1, 2019 | A | 7,150 | $0.00 | A | 7,150 | D | |
| Restricted Stock Unit (LTIP 3/1/2019)F4 | Mar 1, 2019 | A | 1,787 | $0.00 | A | 1,787 | D | |
| Restricted Stock Units (LTIP 3/1/2018)F5,F6 | Mar 1, 2019 | D | 506 | $0.00 | D | 1,518 | D | |
| Common Stock | holding | — | — | — | 221 | I | 401(k) | |
| Discretionary Restricted Stock Units (February 2017) | holding | — | — | — | 2,000 | D | ||
| Performance Stock Units (February 2017) | holding | — | — | — | 1,350 | D | ||
| Performance Stock Units (March 2018) | holding | — | — | — | 7,732 | D | ||
| Restricted Stock Unit (LTIP 6/10/2016) | holding | — | — | — | 911 | D | ||
| Restricted Stock Units (LTIP 02/01/2017) | holding | — | — | — | 726 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Unit (MSPP Match Post-2012)F7 | — | holding | — | — | — | — | — | Common Stock | 2,184 | 2,184 | D |
| Restricted Stock Unit (MSPP Post-2012)F8 | — | holding | — | — | — | — | — | Common Stock | 2,184 | 2,184 | D |
Explanation of responses
- F1Represents the conversion of restricted stock units awarded as part of the Company 's Long Term Incentive Plan into common stock upon vesting.
- F2Represents common stock retained by the Company upon conversion of Reporting Person's restricted stock units into shares of common stock in satisfaction of the Reporting Person's individual minimum statutory withholding obligation.
- F3Represents 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 2019. 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.
- F4Represents restricted stock units awarded as part of the Company 's Long Term Incentive Plan. Twenty-five percent (25%) of the total units awarded vest and are payable, solely in shares of common stock of the Company, on March 1st, 2020 and on each March 1st thereafter through March 1st, 2023.
- F5Represents restricted stock units awarded as part of the Company 's Long Term Incentive Plan. Twenty-five percent (25%) of the total units awarded vest and are payable, solely in shares of common stock of the Company, on March 1, 2019 and on each March 1st thereafter through March 1, 2022.
- F6Represents the conversion of restricted stock units to shares of common stock upon vesting of restricted stock units awarded as part of the Company 's Long Term Incentive Plan. Twenty-five percent (25%) of the total units awarded vest and are payable, solely in shares of common stock of the Company on each anniversary of the March 1, 2018 award date.
- F7Restricted stock units are forfeited if Reporting Person's service as an officer of the Company is terminated prior to age sixty (60). If service as an officer continues through age sixty (60), restricted stock units are payable solely in cash in one lump sum payment or in five (5) or ten (10) consecutive, substantially equal annual installments, whichever distribution form is elected by the Reporting Person, beginning six (6) months following termination of service. Each restricted stock unit is converted to cash in an amount equal to the fair market value (200 day rolling average) of one share of the Company's common stock on the date of termination of the Reporting Person's service as an officer of the Company.
- F8Restricted stock units are payable solely in cash in one lump sum payment or in five (5) or ten (10) consecutive, substantially equal annual installments, whichever distribution form is elected by the Reporting Person, beginning six (6) months following termination of service as an officer of the Company. Each restricted stock unit is converted to cash in an amount equal to the fair market value (200 day rolling average) of one share of the Company's common stock on the date of termination of the Reporting Person's service as an officer of the Company.