SEC Form 4 · accession 0000899243-17-008243
NN INC · NNBR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas C. Burwell Jr.
Officer — See Remarks
Period of report
Mar 16, 2017
Accepted (ET)
Mar 20, 2017 · 8:25 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000918541
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 16, 2017 | F | 329 | $22.55 | D | 30,715 | D | |
| Common StockF1 | Mar 17, 2017 | F | 624 | $24.20 | D | 30,091 | D | |
| Common Stock | Mar 17, 2017 | A | 3,418 | $0.00 | A | 33,509 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F3 | $24.20 | Mar 17, 2017 | A | 21,500 | A | — | Mar 17, 2027 | Common Stock | 21,500 | 21,500 | D |
| Performance RightsF4,F5 | — | Mar 17, 2017 | A | 2,996 | A | — | — | Common Stock | 2,996 | 2,996 | D |
Explanation of responses
- F1Represents the amount of shares delivered to satisfy applicable tax withholding obligations in connection with the vesting of shares of restricted stock.
- F2Shares are restricted stock and vest in three equal annual installments beginning on March 17, 2018.
- F3The option becomes exercisable in three equal annual installments beginning on the first anniversary of the date of grant.
- F4Each performance right represents a contingent right to receive one share of common stock of NN, Inc. (the "Issuer").
- F5The vesting of the performance rights is based on the relative total shareholder return ("TSR") of the Issuer, as compared to the TSR of the S&P SmallCap 600 Index over the period beginning on January 1, 2017 and ending December 31, 2019. The performance rights will vest on December 31, 2019 subject to the reporting person's continuous employment through December 31, 2019 and subject to certain conditions as set forth in the Issuer's 2016 Omnibus Incentive Plan. Performance rights granted represent the right to receive the target shares, and actual performance rights earned may be between 50% and 150% of the target shares. Performance rights that do not vest on December 31, 2019 expire automatically.
Remarks
SVP and Chief Financial Officer