SEC Form 4 · accession 0001127602-18-007304
Snap-on Inc · SNA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard K Strege
Officer — Vice President & Controller
Period of report
Feb 15, 2018
Accepted (ET)
Feb 20, 2018 · 5:27 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 15, 2018 | M | 32 | — | A | 1,472 | D | |
| Common Stock | Feb 15, 2018 | F | 32 | $161.18 | D | 1,440 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitsF1,F3 | — | Feb 15, 2018 | A | 41 | A | — | — | Common Stock | 41 | 463 | D |
| Performance UnitsF1,F3 | — | Feb 15, 2018 | M | 431 | D | — | — | Common Stock | 431 | 32 | D |
| Deferred Stock UnitsF1,F5,F3,F4 | — | Feb 15, 2018 | M | 431 | A | — | — | Common Stock | 431 | 2,200 | D |
| Performance UnitsF1,F3 | — | Feb 15, 2018 | M | 32 | D | — | — | Common Stock | 32 | 0 | D |
| Restricted Stock UnitsF6,F3 | — | Feb 15, 2018 | D | 217 | D | — | — | Common Stock | 217 | 131 | D |
| Stock Option (Right to Buy)F8,F7 | $161.18 | Feb 15, 2018 | A | 4,774 | A | Feb 15, 2019 | Feb 15, 2028 | Common Stock | 4,774 | 4,774 | D |
| Restricted Stock UnitsF3,F9 | — | Feb 15, 2018 | A | 554 | A | — | — | Common Stock | 554 | 554 | D |
| Performance UnitsF3,F10 | — | Feb 15, 2018 | A | 554 | A | — | — | Common Stock | 554 | 554 | D |
| Stock Option (Right to Buy)F11 | $144.69 | holding | — | — | — | — | Feb 12, 2025 | Common Stock | 3,067 | 3,067 | D |
| Stock Option (Right to Buy)F7 | $138.03 | holding | — | — | — | Feb 11, 2017 | Feb 11, 2026 | Common Stock | 4,800 | 4,800 | D |
| Stock Option (Right to Buy)F7 | $168.70 | holding | — | — | — | Feb 9, 2018 | Feb 9, 2027 | Common Stock | 5,000 | 5,000 | D |
| Restricted Stock UnitsF3,F12 | — | holding | — | — | — | — | — | Common Stock | 413 | 413 | D |
| Performance UnitsF3,F13 | — | holding | — | — | — | — | — | Common Stock | 356 | 356 | D |
| Performance UnitsF3,F14 | — | holding | — | — | — | — | — | Common Stock | 348 | 348 | D |
Explanation of responses
- F1Based on Company performance during the 2015-2017 period, approximately 109.7% of the performance units vested (as previously disclosed, the reporting person had the opportunity to earn up to 200% of the number originally reported, subject to plan limits). The reporting person elected to defer the receipt of a portion of the underlying shares.
- F10If the Company achieves certain goals over the 2018-2020 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.
- F11Option fully vested.
- F12The restricted stock units were earned based on Company performance during fiscal 2016. Assuming continued employment through the end of fiscal 2018, the units will then vest in one installment and the shares will be issued shortly thereafter.
- F13If the Company achieves certain goals over the 2016-2018 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.
- F14If the Company achieves certain goals over the 2017-2019 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.
- F2Shares were withheld to cover tax withholding upon the vesting of performance units.
- F31 for 1.
- F4Payment will be made in accordance with the reporting person's deferral election, death, disability or termination of employment.
- F5This information is based on a plan statement dated December 31, 2017, as updated by the transaction being reported.
- F6Based on Company performance during fiscal 2017, approximately 37.7% 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, subject to plan limits). Assuming continued employment through the end of fiscal 2019, the units will then vest in one installment and the shares will be issued shortly thereafter.
- F7Original option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.
- F8This transaction was an option grant. Accordingly, the reporting person did not pay a price to obtain the option.
- F9The restricted stock units may be earned based on the achievement of certain Company goals during fiscal 2018. Assuming continued employment through the end of fiscal 2020, 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 number is 200% of the number reported, subject to plan limits.