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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Units | (1) | 02/23/2018 | M | 58,979 (1) | (1) | (1) | Common Stock | 58,979 | $ 0 | 0 | D | ||||
Performance Stock Units | (7) | 02/23/2018 | A | 415,461 (8) | (7) | (7) | Common Stock | 415,461 | $ 0 | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
HULBURT BENJAMIN WARD 2121 OLD GATESBURG ROAD SUITE 110 STATE COLLEGE, PA 16803 |
X | President and CEO |
/s/ Benjamin W. Hulburt | 06/07/2018 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | On February 23, 2015, the reporting person was granted 176,938 restricted stock units, with each unit representing the right to receive one share of the issuer's common stock. The final 33.33% of the total shares underlying the restricted stock units vested on February 23, 2018. |
(2) | Represents shares withheld to satisfy tax obligations upon the vesting of the restricted stock on February 23, 2018. |
(3) | Represents restricted stock units representing the right to receive one share of common stock per unit granted on February 23, 2018 under the Company's 2014 Long-Term Incentive Plan, as amended, which vest in three equal installments of 33.33%, 33.33% and 33.33% on February 23, 2019, February 23, 2020 and February 23, 2021, respectively (the "2018 RSU Grant"). |
(4) | On February 24, 2017, the reporting person was granted 627,907 restricted stock units, with each unit representing the right to receive one share of the issuer's common stock. 33.33% of the total shares underlying the restricted stock units vested on February 24, 2018. The remaining restricted stock units will vest 33.33% on February 24, 2019 and 33.33% on February 24, 2020. |
(5) | Represents shares withheld to satisfy tax obligations upon the vesting in full of restricted stock units for an award that the Reporting Person was granted on February 24, 2017 in the amount of 65,529 restricted stock units, with each unit representing the right to receive one share of the issuer's common stock. |
(6) | Represents shares of the issuer's stock held by The Hulburt Family II Limited Partnership, which is controlled by the Reporting Person. |
(7) | Represents performance stock units representing the right to receive one share of common stock per unit granted on February 23, 2018 under the Company's 2014 Long-Term Incentive Plan, as amended, the vesting of which is subject to the satisfaction of certain performance criteria in the period beginning January 1, 2018 and ending on December 31, 2020 (the "2018 PSU Grant"). |
(8) | The original Form 4 filed on February 23, 2018 is amended by this Form 4 amendment solely to correct the following typographical errors (i) the 2018 RSU Grant was made on February 23, 2018 (not March 23, 2018 as reported in Table I of the original Form 4) and (ii) the 2018 PSU Grant consisted of 415,461 performance stock units (not 4,154,461 performance stock units as reported in Table II of the original Form 4). |