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CKX LANDS, INC. — Director's Dealing 2022
Jun 16, 2022
34905_dirs_2022-06-15_e731f496-4076-4eed-b9eb-0ecbbc03f7b7.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: CKX LANDS, INC. (CKX)
CIK: 0000352955
Period of Report: 2022-06-13
Reporting Person: Stepp Scott Adams (Chief Financial Officer)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2022-06-13 | Common Stock | A | 38377 | $0.00 | Acquired | 38377 | Direct |
| 2022-06-13 | Common Stock | M | 15792 | $0.00 | Acquired | 54169 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2022-06-13 | Performance Shares | $ | A | 140121 | Acquired | 2024-07-15 | Common Stock (140121) | Direct |
| 2022-06-13 | Performance Shares | $ | M | 15792 | Disposed | 2024-07-15 | Common Stock (15792) | Direct |
Footnotes
F1: The reported transaction was the grant of restricted stock units (RSUs) that are payable solely in shares of the Issuer's common stock. The RSUs will vest incrementally on July 15, 2022, 2023 and 2024 if the Reporting Person remains employed by the Issuer on those dates.
F2: Each performance share represents a contingent right to receive one share of the Issuer's common stock. Various percentages of the performance share award vest if the closing price of the Issuer's common stock equals or exceeds, for at least ten consecutive trading days during the performance period, prices of $12, $13, $14, $14.50 and $15 per share. The performance period is July 15, 2020 to July 15, 2024.
F3: The Issuer's common stock met the $12 trading price target on May 19, 2021. Accordingly, 11.27% of the award was vested at the time it was granted.