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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 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 | ||||||||
Performance-Based Restricted Stock Units | $ 0 (1) | 02/22/2019(2) | A | 5,162 (2) | (3) | (3) | Common Stock | 5,162 (2) | $ 0 | 5,162 (2) | D | ||||
Restricted Stock Units | $ 0 (4) | 02/22/2019(2) | A | 5,163 (2) | (5) | (5) | Common Stock | 5,163 (2) | $ 0 | 5,163 (2) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Fulton Tricia L 1500 WEST UNIVERSITY PARKWAY SARASOTA, FL 34243 |
Chief Financial Officer |
Gregory C. Yadley, as Attorney-in-Fact for TRICIA L. FULTON | 02/25/2020 | |
**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) | Each performance-based Restricted Stock Unit (RSU) represents the right to receive, following vesting, up to 150% of one share of Sun Hydraulics common stock (Common Stock). The number of shares of Common Stock acquired upon vesting of the performance-based RSUs is contingent upon the achievement of pre-established performance metrics, as approved by the Company's Compensation Committee, over a three-year performance period beginning on the first day of the Company's fiscal year ending December 28, 2019 and ending on the last day of the Company's fiscal year ending January 1, 2022. |
(2) | This filing corrects the filing made for the grant of the Performance-based RSUs and the RSUs made on February 22, 2019 and originally reported on a Form 4 filed on February 26, 2019. The original Form 4 reported that 5,162.5 performance-based RSUs were granted and 5,162.5 RSUs were granted. Because the issuer did not wish to issue fractional units, it actually issued 5,162 performance-based RSUs and 5,163 RSUs. |
(3) | Unless earlier forfeited under the terms of the performance-based RSU, each performance-based RSU vests and converts into no more than 150% of one share of Common Stock after the determination of the achievement of the performance goals during the three-year performance period ending on the last day of the Company's fiscal year ending January 1, 2022. |
(4) | Each RSU represents the right to receive, following vesting, one share of Common Stock. |
(5) | Unless earlier forfeited under the terms of the RSU, 33-1/3% of the awards vest and convert into Common Stock on each anniversary of the grant date. |