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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 | ||||||||
Performance Rights (1) | (2) (3) (4) | 12/15/2015 | A | 41,373 | (2)(3)(4) | (2)(3)(4) | Common Stock | 41,373 | $ 0 (2) (3) (4) | 41,373 | D | ||||
Performance Rights (1) | (5) | (5) | (5) | Common Stock | 11,380 | 11,380 | D | ||||||||
Performance Rights (1) | (6) | (6) | (6) | Common Stock | 6,434 | 6,434 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Rouve Andreas C/O SPECTRUM BRANDS HOLDINGS, INC. 3001 DEMING WAY MIDDLETON, WI 53562 |
X | CEO & President |
/s/ Nathan E. Fagre, attorney-in-fact | 12/17/2015 | |
**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 right represents a contingent right to receive one share of the Issuer's common stock. |
(2) | Represent performance rights granted on December 15, 2015 under the Spectrum Brands Holdings, Inc. 2016 Equity Incentive Plan ("2016 EIP Award"). Fifty percent of the 2016 EIP Award shall be payable if the Issuer achieves adjusted EBITDA of at least the adjusted EBITDA target set by the Compensation Committee for the fiscal year ending September 30, 2016 ("2016 Adjusted EBITDA") and fifty percent shall be payable if the Issuer achieves adjusted free cash flow of at least the adjusted free cash flow target set by the Compensation Committee for the fiscal year ending September 30, 2016 ("2016 FCF"), as determined within 74 days following the end of said fiscal year (such date, the "2016 EIP Award Date"). |
(3) | If the Issuer does not achieve these targets but exceeds the actual results achieved in the 2015 fiscal year for these targets, Mr. Rouve would receive a reduced award. On such date (the "2016 EIP Performance Vesting Date"), one-half of any performance rights that have been earned will vest (such amount, the "2016 EIP Performance Award"). In addition, an amount equal to the 2016 EIP Performance Award will vest on the first anniversary of the 2016 EIP Performance Vesting Date (such date, the "2016 EIP Service Vesting Date"), if Mr. Rouve remains employed by the Issuer on such first anniversary (such amount, the "2016 EIP Service Award"). |
(4) | Mr. Rouve shall also be eligible to receive up to 10,726 additional shares (the "2016 EIP Additional Award") based on the Issuer exceeding by a certain percentage the 2016 adjusted EBITDA and 2016 FCF targets for the fiscal year ended September 30, 2016. The 2016 EIP Additional Award will vest on the 2016 EIP Service Vesting Date if Mr. Rouve remains employed by the Issuer as of such date and if the Issuer's 2017 adjusted EBITDA and adjusted free cash flow results are equal to or greater than the comparable results for 2016. The 2016 EIP Performance Award, the 2016 EIP Service Award, and the 2016 EIP Additional Award together constitute the 2016 EIP Award. |
(5) | Represent the 2015 EIP Service Award portion of 10,339 shares of Mr. Rouve's 2015 EIP Award granted on December 15, 2014 under the Spectrum Brands Holdings, Inc. 2015 Equity Incentive Plan that will vest on December 1, 2016, if Mr. Rouve remains employed by the Issuer on such date, and the 2015 EIP Additional Award portion of Mr. Rouve's 2015 EIP Award of up to 1,041 additional shares that will also vest on December 1, 2016 if Mr. Rouve remains employed by the Issuer as of such date and if the Issuer's 2016 adjusted EBITDA and adjusted free cash flow results are equal to or greater than the comparable results for 2015. |
(6) | Represent the 2015 EIP Service Award portion of 5,393 shares of Mr. Rouve's 2015 EIP Award granted on April 1, 2015 under the Spectrum Brands Holdings, Inc. 2015 Equity Incentive Plan that will vest on December 1, 2016, if Mr. Rouve remains employed by the Issuer on such date, and the 2015 EIP Additional Award portion of Mr. Rouve's 2015 EIP Award of up to 521 additional shares that will also vest on December 1, 2016 if Mr. Rouve remains employed by the Issuer as of such date and if the Issuer's 2016 adjusted EBITDA and adjusted free cash flow results are equal to or greater than the comparable results for 2015. |