SEC Form 4 · accession 0001718653-19-000001
GLOBAL INDUSTRIAL Co · GIC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Kipe
Officer — SVP & Chief Operations Officer
Period of report
Jan 17, 2019
Accepted (ET)
Jan 22, 2019 · 4:11 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000945114
Table I — non-derivative securities
No Table I lines on this filing.
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)F2 | $31.66 | Jan 17, 2019 | D | 17,550 | D | — | Oct 2, 2028 | Common Stock | 17,550 | 0 | D |
| Employee Stock Option (right to buy)F2 | $29.36 | Jan 17, 2019 | A | 17,550 | A | — | Oct 2, 2028 | Common Stock | 17,550 | 17,550 | D |
Explanation of responses
- F1The transactions reported herein reflect a one-time stock option repricing (the "Option Repricing") that became effective on January 17, 2019 and are being reported in this manner solely to comply with the technical reporting requirements under Section 16(a) of the Securities Exchange Act of 1934. Pursuant to the Option Repricing, the exercise price of the Employee Stock Option (right to buy) has been amended to reduce such exercise price by $2.30. There have been no other changes to the terms of the Employee Stock Option (right to buy). The Option Repricing was related to a special dividend declared in December 2018.
- F2On October 2, 2018, the reporting person was granted 17,550 stock options pursuant to the Company's 2010 Long Term Incentive Plan, which vest over three years in equal installments of 5,850, starting on February 1, 2020 based on the achievement of a minimum adjusted operating income as determined in a manner consistent with the methods used in the Issuer's regular reports on Form 10K and Form 10Q.