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MODINE MANUFACTURING CO — Director's Dealing 2017
Jun 6, 2017
30783_dirs_2017-06-06_2e3671e1-020b-468a-bfe8-a259c2f7e98c.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: MODINE MANUFACTURING CO (MOD)
CIK: 0000067347
Period of Report: 2017-06-02
Reporting Person: KELSEY MARGARET C (VP, Gen Counsel & Secretary)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2017-06-02 | Common stock | F | 771 | $15.85 | Disposed | 82635 | Direct |
| 2017-06-02 | Common stock | F | 1054 | $15.85 | Disposed | 81581 | Direct |
| 2017-06-02 | Common stock | A | 3083 | $0.00 | Acquired | 84664 | Direct |
| 2017-06-02 | Common stock | F | 1080 | $15.85 | Disposed | 83584 | Direct |
| 2017-06-02 | Common stock | F | 1041 | $15.85 | Disposed | 82543 | Direct |
Footnotes
F1: Shares disposed of in a private transaction to cover tax withholding.
F2: This total includes 318 units of Modine common stock held in the Reporting Person's Modine 401(k) Retirement Plan account.
F3: The performance period for Performance Stock under the long-term incentive compensation plan initiated in June 2014 terminated in calendar 2017. The amount of the award varied based upon the achievement of Threshold, Target or Maximum levels. Under that plan, the Company used two measures to determine the payouts: Three-Year Average ROACE ("ROACE") and Annual Revenue Growth. The Company's ROACE for the performance period was 7.7%, which exceeded the Threshold level for that performance measure. As a result, in accordance with the long-term incentive compensation plan, the Company issued shares of unrestricted stock at approximately 35% of the Target.