SEC Form 4 · accession 0000912833-16-000127
WEST MARINE INC · WMAR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeff Lasher
Officer — Chief Financial Officer
Period of report
Dec 14, 2016
Accepted (ET)
Dec 16, 2016 · 5:58 pm EST
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 | Dec 14, 2016 | A | 1,264 | $0.00 | A | 41,129 | D | |
| Common StockF3 | Dec 14, 2016 | F | 2,356 | $0.00 | D | 38,773 | D | |
| Common StockF4,F5 | Dec 14, 2016 | F | 411 | $0.00 | D | 38,362 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Performance-based restricted stock units ("PVUs") granted on December 14, 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. Also includes 1,544 shares acquired in October 2016 under the Issuer's Amended and Restated Associates Stock Buying Plan.
- F3Shares withheld to cover income taxes related to the vesting of 7,260 RSUs on December 14, 2016.
- F4Shares withheld to cover income taxes related to the vesting of 1,264 PVUs on December 14, 2016.
- F5Does not include unvested PVUs.