SEC Form 4 · accession 0001140361-16-058458
NN INC · NNBR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas C. Burwell Jr.
Officer — VP-CAO and Corporate Controlle
Period of report
Mar 16, 2016
Accepted (ET)
Mar 18, 2016 · 5:58 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, 2016 | A | 3,945 | $0.00 | A | 31,044 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF2,F3 | — | Mar 16, 2016 | A | 3,945 | A | — | — | Common Stock | 3,945 | 3,945 | D |
Explanation of responses
- F1Shares are restricted stock which vest in three equal annual installments beginning on March 16, 2017.
- F2Each performance right represents a contingent right to receive one share of common stock of NN, Inc. (the "Issuer").
- F3The 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, 2016 and ending December 31, 2018. The performance rights will vest on December 31, 2018 subject to the reporting person's continuous employment through December 31, 2018 and subject to certain conditions as set forth in the Issuer's 2011 Stock 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, 2018 expire automatically.