SEC Form 4 · accession 0001127602-16-037644
AK STEEL HOLDING CORP · AKS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Eric S Petersen
Officer — VP, Research and Innovation
Period of report
Jan 20, 2016
Accepted (ET)
Jan 22, 2016 · 4:17 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000918160
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jan 20, 2016 | A | 13,000 | $0.00 | A | 95,228 | D | |
| Common Stock | Jan 21, 2016 | F | 1,839 | $1.91 | D | 93,389 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F1 | $1.74 | Jan 20, 2016 | A | 18,200 | A | Jan 20, 2017 | Jan 20, 2026 | Common Stock | 18,200 | 18,200 | D |
| Performance SharesF3,F2,F4 | — | Jan 20, 2016 | A | 6,750 | A | Dec 31, 2018 | Dec 31, 2018 | Common Stock | 6,750 | 6,750 | D |
Explanation of responses
- F1Options vest in three equal annual installments beginning one year after grant date.
- F2Each Performance Share represents a contingent right to receive 0 to 1.5 shares of Common Stock. The conversion rate (0, .5, or 1.5) ultimately applied to these Performance Shares will be determined based on the compounded annual growth rate ("CAGR") of the Common Stock between January 1, 2016 to December 31, 2018 (the "Performance Period").
- F3This represents one half of the Performance Shares which were awarded on January 20, 2016 and are required to be reported at this time because they constitute derivative securities. The other half do not constitute derivative securities and therefore are not required to be reported at this time.
- F4The number of shares of Common Stock underlying this grant of the Performance Shares will be 0 to 1.5 times the number of Performance Shares granted depending on CAGR achieved during the Performance Period.