AI assistant
PARSONS CORP — Director's Dealing 2019
May 7, 2019
30685_dirs_2019-05-07_6a7028bd-9d21-4c42-84e6-44233ce4169c.zip
Director's Dealing
Open in viewerOpens in your device viewer
SEC Form 3 — Initial Statement of Beneficial Ownership
Issuer: PARSONS CORP (PSN)
CIK: 0000275880
Period of Report: 2019-05-07
Reporting Person: Harrington Charles L. (Director, See Remarks)
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 28618 | Indirect |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Phantom Stock | $0.00 | 2022-03-15 | Common Stock (26667) | Direct | |
| Phantom Stock | $0.00 | 2022-03-15 | Common Stock (40000) | Direct | |
| Phantom Stock | $0.00 | 2021-03-15 | Common Stock (22057) | Direct | |
| Phantom Stock | $0.00 | 2021-03-15 | Common Stock (22057) | Direct | |
| Phantom Stock | $68.00 | 2021-03-15 | Common Stock (176661) | Direct | |
| Phantom Stock | $0.00 | 2020-03-15 | Common Stock (24044) | Direct | |
| Phantom Stock | $0.00 | 2020-03-15 | Common Stock (24044) | Direct | |
| Phantom Stock | $61.00 | 2020-03-15 | Common Stock (183333) | Direct | |
| Phantom Stock | $0.00 | Common Stock () | Direct |
Footnotes
F1: Consists of shares of common stock beneficially owned by such person through Issuer's Employee Stock Ownership Plan ("ESOP"), rounded to the nearest whole share. Reporting Person shares voting and investment power with the ESOP with respect to such shares beneficially owned through the ESOP. For the avoidance of doubt, all of the share numbers and prices per share in this report do not reflect the stock dividend to be effected by Issuer in connection with the closing of its initial public offering.
F2: Represents an award granted in 2019 under the Issuer's Restricted Award Plan. Each share of phantom stock represents a right to receive the cash value of one share of Issuer's common stock. The award will vest in three equal installments on each of December 31, 2019, 2020 and 2021, subject to the Reporting Person's continued employment with Issuer on each such vesting date. The award will be paid in cash, although the Issuer may elect to pay the award in the form of shares of Issuer's common stock. If paid in cash, the value of the phantom stock will be determined based on the Issuer's share price at the time of payment.
F3: Represents an award granted in 2019 under the Issuer's Long Term Growth Plan. Each share of phantom stock represents a right to receive the cash value of one share of Issuer's common stock. The award will vest based on Issuer's performance during a three-year performance period ending December 31, 2021, subject to the Reporting Person's continued employment with Issuer on the payment date. The award will be paid in cash, although the Issuer may elect to pay the award in the form of shares of Issuer's common stock. If paid in cash, the value of the phantom stock will be determined based on the Issuer's share price at the time of payment.
F4: Represents an award granted in 2018 under the Issuer's Restricted Award Plan. Each share of phantom stock represents a right to receive the cash value of one share of Issuer's common stock. The award will vest on December 31, 2020, subject to the Reporting Person's continued employment with Issuer on such vesting date. The award will be paid in cash. The value of the phantom stock will be determined based on the Issuer's share price at the time of payment.
F5: Represents an award granted in 2018 under the Issuer's Long Term Growth Plan. Each share of phantom stock represents a right to receive the cash value of one share of Issuer's common stock. The award will vest based on Issuer's performance during a three-year performance period ending December 31, 2020, subject to the Reporting Person's continued employment with Issuer on the payment date. The award will be paid in cash. The value of the phantom stock will be determined based on the Issuer's share price at the time of payment.
F6: Represents an award granted in 2018 under the Issuer's Shareholder Value Plan. Each share of phantom stock represents a right to receive the cash value of one share of Issuer's common stock less the base price per unit of the award. The award will vest on December 31, 2020, subject to the Reporting Person's continued employment with Issuer on such vesting date. The award will be paid in cash. The value of the phantom stock will be determined based on the Issuer's share price at the time of payment.
F7: Represents an award granted in 2017 under the Issuer's Restricted Award Plan. Each share of phantom stock represents a right to receive the cash value of one share of Issuer's common stock. The award will vest on December 31, 2019, subject to the Reporting Person's continued employment with Issuer on each such vesting date. The award will be paid in cash. The value of the phantom stock will be determined based on the Issuer's share price at the time of payment.
F8: Represents an award granted in 2017 under the Issuer's Long Term Growth Plan. Each share of phantom stock represents a right to receive the cash value of one share of Issuer's common stock. The award will vest based on Issuer's performance during a three-year performance period ending December 31, 2019, subject to the Reporting Person's continued employment with Issuer on the payment date. The award will be paid in cash. The value of the phantom stock will be determined based on the Issuer's share price at the time of payment.
F9: Represents an award granted in 2017 under the Issuer's Shareholder Value Plan. Each share of phantom stock represents a right to receive the cash value of one share of Issuer's common stock less the base price per unit of the award. The award will vest on December 31, 2019, subject to the Reporting Person's continued employment with Issuer on such vesting date. The award will be paid in cash. The value of the phantom stock will be determined based on the Issuer's share price at the time of payment.
F10: Represents Reporting Person's account under the Issuer's Executive Restoration Plan. Reporting Person's account is increased or decreased annually by the percentage change in the value of Issuer's common stock since the preceding annual valuation date. Reporting Person's account balance as of December 31, 2018, the most recent annual valuation date, was $1,319,660. The Reporting Person will vest in the excess benefit plan account in accordance with the same vesting schedule as the ESOP. The account is paid in cash in a lump sum upon the Reporting Person's termination of employment, or, if so elected by the Reporting Person, upon a change in control or substantial financial hardship.