SEC Form 4 · accession 0001127602-15-023565
Snap-on Inc · SNA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Iain Boyd
Officer — VP - Human Resources
Period of report
Jul 27, 2015
Accepted (ET)
Jul 28, 2015 · 5:35 pm EDT
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 | Jul 27, 2015 | S | 3,951 | $158.4536 | D | 928 | D | |
| Common Stock | Jul 27, 2015 | M | 5,400 | $50.22 | A | 6,328 | D | |
| Common Stock | Jul 27, 2015 | M | 6,480 | $51.75 | A | 12,808 | D | |
| Common Stock | Jul 27, 2015 | M | 2,160 | $29.69 | A | 14,968 | D | |
| Common Stock | Jul 27, 2015 | M | 6,500 | $41.01 | A | 21,468 | D | |
| Common StockF2 | Jul 27, 2015 | S | 7,490 | $157.9602 | D | 13,978 | D | |
| Common StockF3 | Jul 27, 2015 | S | 5,738 | $158.7143 | D | 8,240 | D | |
| Common StockF4 | holding | — | — | — | 561 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F5 | $50.22 | Jul 27, 2015 | M | 5,400 | D | Feb 15, 2010 | Feb 15, 2017 | Common Stock | 5,400 | 0 | D |
| Stock Option (Right to Buy)F5 | $51.75 | Jul 27, 2015 | M | 6,480 | D | Feb 13, 2011 | Feb 13, 2018 | Common Stock | 6,480 | 0 | D |
| Stock Option (Right to Buy)F5 | $29.69 | Jul 27, 2015 | M | 2,160 | D | Feb 11, 2012 | Feb 11, 2019 | Common Stock | 2,160 | 0 | D |
| Stock Option (Right to Buy)F5 | $41.01 | Jul 27, 2015 | M | 6,500 | D | Feb 10, 2013 | Feb 10, 2020 | Common Stock | 6,500 | 0 | D |
| Stock Option (Right to Buy) | $58.94 | holding | — | — | — | Feb 9, 2014 | Feb 9, 2021 | Common Stock | 10,000 | 10,000 | D |
| Stock Option (Right to Buy) | $60.00 | holding | — | — | — | Feb 8, 2015 | Feb 8, 2022 | Common Stock | 12,000 | 12,000 | D |
| Stock Option (Right to Buy)F6 | $79.04 | holding | — | — | — | Feb 13, 2014 | Feb 13, 2023 | Common Stock | 13,000 | 13,000 | D |
| Stock Option (Right to Buy)F6 | $109.43 | holding | — | — | — | Feb 13, 2015 | Feb 13, 2024 | Common Stock | 13,500 | 13,500 | D |
| Stock Option (Right to Buy)F6 | $144.69 | holding | — | — | — | Feb 12, 2016 | Feb 12, 2025 | Common Stock | 13,500 | 13,500 | D |
| Restricted Stock UnitsF7,F8 | — | holding | — | — | — | — | — | Common Stock | 2,278 | 2,278 | D |
| Restricted Stock UnitsF7,F9 | — | holding | — | — | — | — | — | Common Stock | 2,211 | 2,211 | D |
| Restricted Stock UnitsF7,F10 | — | holding | — | — | — | — | — | Common Stock | 1,304 | 1,304 | D |
| Performance UnitsF7,F11 | — | holding | — | — | — | — | — | Common Stock | 2,104 | 2,104 | D |
| Performance UnitsF7,F12 | — | holding | — | — | — | — | — | Common Stock | 1,660 | 1,660 | D |
| Performance UnitsF7,F13 | — | holding | — | — | — | — | — | Common Stock | 1,304 | 1,304 | D |
| Deferred Stock UnitsF4,F15,F7,F14 | — | holding | — | — | — | — | — | Common Stock | 316 | 316 | D |
Explanation of responses
- F1Includes 219.4619 shares acquired under the Snap-on Incorporated Employee Stock Ownership Plan and 5.6924 shares acquired under a dividend reinvestment plan.
- F10The 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, subject to plan limits.
- 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, subject to plan limits.
- 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, subject to plan limits.
- F13If 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, subject to plan limits.
- F14Payment will be made in accordance with the reporting person's deferral election, death, disability or termination of employment.
- F15Balance was adjusted to correct an administrative error from a prior year.
- F2This transaction was executed in multiple trades at prices ranging from $157.41 to $158.40. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.
- F3This transaction was executed in multiple trades at prices ranging from $158.42 to $159.28. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.
- F4This information is based on a plan statement dated June 30, 2015.
- F5Exercise of Rule 16b-3 stock option.
- F6Original option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.
- F71 for 1.
- F8The 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.
- F9The restricted stock units were earned based on Company performance during fiscal 2014. 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.