SEC Form 4 · accession 0001127602-15-006466
Snap-on Inc · SNA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas L. Kassouf
Officer — Sr VP & Pres - Tools
Period of report
Feb 12, 2015
Accepted (ET)
Feb 17, 2015 · 5:43 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000091440
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 12, 2015 | M | 8,918 | — | A | 31,810 | D | |
| Common Stock | Feb 12, 2015 | F | 4,331 | $144.69 | D | 27,479 | D | |
| Common StockF3 | holding | — | — | — | 7,403 | I | By 401(k) |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitsF1,F4 | — | Feb 12, 2015 | A | 1,596 | A | — | — | Common Stock | 1,596 | 8,918 | D |
| Performance UnitsF1,F4 | — | Feb 12, 2015 | M | 8,918 | D | — | — | Common Stock | 8,918 | 0 | D |
| Restricted Stock UnitsF5,F4 | — | Feb 12, 2015 | A | 1,422 | A | — | — | Common Stock | 1,422 | 5,693 | D |
| Performance UnitsF4,F6 | — | Feb 12, 2015 | A | 3,452 | A | — | — | Common Stock | 3,452 | 3,452 | D |
| Restricted Stock UnitsF4,F7 | — | Feb 12, 2015 | A | 3,452 | A | — | — | Common Stock | 3,452 | 3,452 | D |
| Stock Option (Right to Buy)F9,F8 | $144.69 | Feb 12, 2015 | A | 37,000 | A | Feb 12, 2016 | Feb 12, 2025 | Common Stock | 37,000 | 37,000 | D |
| Stock Option (Right to Buy) | $50.22 | holding | — | — | — | Feb 15, 2010 | Feb 15, 2017 | Common Stock | 6,480 | 6,480 | D |
| Stock Option (Right to Buy) | $54.50 | holding | — | — | — | Apr 30, 2010 | Apr 30, 2017 | Common Stock | 6,000 | 6,000 | D |
| Stock Option (Right to Buy) | $51.75 | holding | — | — | — | Feb 13, 2011 | Feb 13, 2018 | Common Stock | 20,000 | 20,000 | D |
| Stock Option (Right to Buy) | $58.94 | holding | — | — | — | Feb 9, 2014 | Feb 9, 2021 | Common Stock | 28,000 | 28,000 | D |
| Stock Option (Right to Buy) | $60.00 | holding | — | — | — | Feb 8, 2015 | Feb 8, 2022 | Common Stock | 33,000 | 33,000 | D |
| Stock Option (Right to Buy)F8 | $79.04 | holding | — | — | — | Feb 13, 2014 | Feb 13, 2023 | Common Stock | 35,000 | 35,000 | D |
| Stock Option (Right to Buy)F8 | $109.43 | holding | — | — | — | Feb 13, 2015 | Feb 13, 2024 | Common Stock | 36,000 | 36,000 | D |
| Restricted Stock UnitsF4,F10 | — | holding | — | — | — | — | — | Common Stock | 6,052 | 6,052 | D |
| Performance UnitsF4,F11 | — | holding | — | — | — | — | — | Common Stock | 5,588 | 5,588 | D |
| Performance UnitsF4,F12 | — | holding | — | — | — | — | — | Common Stock | 4,271 | 4,271 | D |
| Deferred Stock UnitsF3,F4,F13 | — | holding | — | — | — | — | — | Common Stock | 1,952 | 1,952 | D |
Explanation of responses
- F1Based on Company performance during the 2012-2014 period, approximately 121.8% of the performance units vested (as previously disclosed, the reporting person had the opportunity to earn up to 200% of the number originally reported).
- F10The restricted stock units were earned based on Company performance during fiscal 2013. Assuming continued employment through the end of fiscal 2015, the units will then vest in one installment and the shares will be issued shortly thereafter.
- F11If the Company achieves certain goals over the 2013-2015 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported.
- F12If the Company achieves certain goals over the 2014-2016 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported.
- F13Payment will be made in accordance with the reporting person's deferral election, death, disability or termination of employment.
- F2Shares were withheld to cover tax withholding upon the vesting of performance units.
- F3This information is based on a plan statement dated December 31, 2014.
- F41 for 1.
- F5Based on Company performance during fiscal 2014, approximately 133.3% of the restricted stock units originally granted were earned (as previously disclosed, the reporting person had the opportunity to earn up to 200% of the number of units originally reported). Assuming continued employment through the end of fiscal 2016, the units will then vest in one installment and the shares will be issued shortly thereafter.
- F6If the Company achieves certain goals over the 2015-2017 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported.
- F7The restricted stock units may be earned based on the achievement of certain Company goals during fiscal 2015. Assuming continued employment through the end of fiscal 2017, any units earned will then vest in one installment and the shares will be issued shortly thereafter. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported.
- F8Original option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.
- F9The transaction was an option grant. Accordingly, the reporting person did not pay a price to obtain the option.