Performance RSUs tie Everpure (P) officer pay to $150 share goal
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Colgrove John reported acquisition or exercise transactions in this Form 4 filing.
Everpure, Inc. director and Chief Visionary Officer John Colgrove received a grant of 78,700 stock-related performance restricted stock units tied to Class A Common Stock. The award is part of the company’s 2015 Equity Incentive Plan and only becomes earned if strict stock price goals are met.
Units may be earned if the prior 30-trading day average closing price reaches $150.00 per share, as adjusted, measured at the end of fiscal 2029, 2030, or 2031, with 33%, 67%, or 100% of target shares earned at those points. Earned shares vest on March 20, 2029, March 20, 2030, or March 20, 2031 and are then subject to a one-year holding period. Any unearned units are forfeited if the price target is not achieved by the fiscal year ending in 2031.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Colgrove John
Role
Chief Visionary Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock-Related Performance Restricted Stock Unit | 78,700 | $0.00 | -- |
Holdings After Transaction:
Stock-Related Performance Restricted Stock Unit — 78,700 shares (Direct, null)
Footnotes (1)
- The shares of Class A Common Stock are issuable upon vesting of a Long-Term Performance Incentive Restricted Stock Unit ("LTP") award under the Issuer's 2015 Equity Incentive Plan and related award agreement. Shares may become earned only if the prior 30-trading day average closing price of the Issuer's Class A Common Stock equals or exceeds $150.00 per share, as equitably adjusted to reflect any stock split, reverse stock split, or similar change in the Issuer's capital structure affecting its common stock, measured at the end of fiscal 2029, 2030 or 2031. If achieved, 33%, 67% and 100%, respectively, of the target shares become earned. Earned shares vest on March 20, 2029, March 20, 2030 or March 20, 2031, as applicable, with later vesting limited to incremental shares earned, subject to Reporting Person's Continuous Service through the applicable vesting date. Shares issued upon vesting are subject to a one-year post-vest holding period. If the $150 stock price target is not met by the end of the Issuer's fiscal year ending in 2031, any unearned shares under the LTP award will immediately be forfeited.
Key Figures
Performance RSUs granted: 78,700 units
Stock price target: $150.00 per share
Measurement periods: Fiscal 2029, 2030, 2031
+3 more
6 metrics
Performance RSUs granted
78,700 units
Stock-related performance restricted stock units tied to Class A Common Stock
Stock price target
$150.00 per share
30-trading day average closing price requirement for earning units
Measurement periods
Fiscal 2029, 2030, 2031
Performance measured at end of each listed fiscal year
Earned percentage schedule
33%, 67%, 100%
Portion of target shares earned at fiscal 2029, 2030, 2031 performance dates
Vesting dates
March 20, 2029/2030/2031
Earned shares vest on these dates if conditions are satisfied
Holding period
One year
Post-vest holding period for shares issued upon vesting
Key Terms
Stock-Related Performance Restricted Stock Unit, Long-Term Performance Incentive Restricted Stock Unit, 2015 Equity Incentive Plan, 30-trading day average closing price, +1 more
5 terms
Long-Term Performance Incentive Restricted Stock Unit financial
"issuable upon vesting of a Long-Term Performance Incentive Restricted Stock Unit ("LTP") award"
2015 Equity Incentive Plan financial
"LTP award under the Issuer's 2015 Equity Incentive Plan and related award agreement"
30-trading day average closing price financial
"only if the prior 30-trading day average closing price of the Issuer's Class A Common Stock equals or exceeds $150.00"
post-vest holding period financial
"Shares issued upon vesting are subject to a one-year post-vest holding period"
FAQ
What did Everpure (P) insider John Colgrove report in this Form 4?
John Colgrove reported receiving 78,700 stock-related performance restricted stock units tied to Everpure’s Class A Common Stock. These units are a compensation grant under the 2015 Equity Incentive Plan rather than an open-market stock purchase or sale.
How many Everpure (P) performance RSUs were granted to John Colgrove?
The filing shows a grant of 78,700 stock-related performance restricted stock units. These units represent a potential future right to receive Class A Common Stock, depending on Everpure’s share price performance and the executive’s continued service through future vesting dates.
What stock price target must Everpure (P) meet for Colgrove’s RSUs to be earned?
The long-term performance units are earned only if the 30-trading day average closing price of Everpure’s Class A Common Stock reaches $150.00 per share, as adjusted. This price test is measured at the end of fiscal 2029, 2030, or 2031 under the plan terms.
When do John Colgrove’s Everpure (P) performance RSUs vest if earned?
Earned shares vest on March 20, 2029, March 20, 2030, or March 20, 2031, depending on when performance goals are met. Vesting requires Colgrove’s continuous service, and vested shares are then subject to a one-year post-vest holding period before they can be freely sold.
How much of the Everpure (P) RSU award is earned at each performance level?
If the $150 price target is met at applicable measurement dates, 33%, 67%, or 100% of the 78,700 target shares may be earned. The percentages correspond to achieving the target at the end of fiscal 2029, 2030, or 2031, respectively, under the award’s performance schedule.
What happens to Colgrove’s Everpure (P) RSUs if the price target is never reached?
If the $150 stock price target is not achieved by the end of Everpure’s fiscal year ending in 2031, all unearned shares under this long-term performance award are immediately forfeited. In that case, Colgrove would not receive the remaining RSUs tied to the unmet performance goal.