SEC Form 4 · accession 0000912833-16-000122
WEST MARINE INC · WMAR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paul Rutenis
Officer — EVP - Merchandising
Period of report
Sep 15, 2016
Accepted (ET)
Sep 19, 2016 · 2:27 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000912833
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Sep 15, 2016 | A | 1,264 | $8.98 | A | 39,285 | D | |
| Common StockF3 | Sep 15, 2016 | F | 2,356 | $8.98 | D | 36,929 | D | |
| Common StockF4,F5 | Sep 15, 2016 | F | 411 | $8.98 | D | 36,518 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Performance-based restricted stock units ("PVUs") granted on September 15, 2015 were subject to achievement of a pre-established performance goal over the one-year performance period ending at the end of fiscal 2015. The Compensation and Leadership Development Committee of the Issuer's Board of Directors certified the Issuer's achievement of the performance goal and determined the number of PVUs that were earned. The PVUs vest over a three-year period, with 33% vesting on the first anniversary of the grant date, another 33% vesting on the second anniversary of the grant date, and 34% vesting on the third anniversary of the grant date, in each case subject to the continued employment with the Issuer.
- F2Includes 30,761 unvested time-vested restricted stock units ("RSUs"). RSUs represent the right to receive one share of common stock for each RSU upon vesting. RSUs vest over a three-year period, with 33% vesting on the first anniversary of the grant date, another 33% vesting on the second anniversary of the grant date, and 34% vesting on the third anniversary of the grant date, subject to continued employment with the Issuer.
- F3Shares withheld to cover income taxes related to the vesting of 7,260 RSUs on September 15, 2016.
- F4Shares withheld to cover income taxes related to the vesting of 1,264 PVUs on September 15, 2016.
- F5Does not include unvested PVUs.