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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) | (2) | 05/01/2019 | A | 1,957,627 | (3)(4) | (3)(4) | Common | 1,957,627 | $ 0 | 1,957,627 | D | ||||
Options To Buy (1) | $ 1.17 | 05/01/2019 | A | 2,750,000 | (3)(4) | (3)(4) | Common | 2,750,000 | $ 0 | 2,750,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
MUTO GARY C/O ASCENA RETAIL GROUP, INC. 933 MACARTHUR BOULEVARD MAHWAH, NJ 07430 |
X | Chief Executive Officer |
Mary Beth Riley, Power of Attorney | 05/03/2019 | |
**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) | Granted under the Company's 2016 Ominibus Incentive Plan. |
(2) | Restricted stock units convert into common stock on a one-for-one basis. |
(3) | Subject to the grantee's continued employment from the grant date through the applicable vesting date: 25% of each of the Restricted Stock Units (l"RSUs") and Non-Qualified Stock Options ("NQSOs") will be eligible to vest if the closing price of the Company's common stock equals or exceeds $3.00 per share for a 20-consecutive trading day period on or prior to the third anniversay of the grant date (the "$3 Hurdle"); an additional 25% of each of the RSUs and NQSOs will be eligible to vest if the closing price of the Company's common stock equals or exceeds $5 per share for a 20-consecutive trading day period on or prior to the third anniversary of the grant date (the "$5 Hurdle"); and the remaining 50% of each of the RSUs and NQSOs will be eligible to vest if the closing price of the Company's common stock equals or exceeds $7 per share for a 20-consecutive trading day period on or prior to the third annivesary of the grant date (the "$7 Hurdle" and together with the $3 Hurdle |
(4) | and $5 Hurdle, the "Hurdles"); provided, however, if a Hurdle is actually achieved prior to the second anniverary of the grant date, the portion of the RSUs and NQSOs related to the Hurdle that was actually achieved prior to the second anniverary of the grant date will vest on the second anniversary of the grant date, subject to the grantee's continued employment from the grant date through the second anniversary of the grant date. Any portion of the RSUs and NQSOs for which the applicable Hurdle is not actually achieved by the third anniversary of the grant date will be forfeited for no consideration. |
Remarks: Note: Footnotes 3 and 4 is one footnote due to the length of the explanation. |