Snap-on Inc — Director's Dealing 2020

Feb 18, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Snap-on Inc (SNA)
CIK: 0000091440
Period of Report: 2020-02-13

Reporting Person: Ward Thomas J (Sr VP & President - RS&I Group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-13	Common Stock	M	1979	—	Acquired	45508.2378	Direct
2020-02-13	Common Stock	F	841	$155.34	Disposed	44667.2378	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-13	Performance Units	$	D	1213	Disposed		Common Stock (1213)	Direct
2020-02-13	Performance Units	$	M	1979	Disposed		Common Stock (1979)	Direct
2020-02-13	Restricted Stock Units	$	D	3103	Disposed		Common Stock (3103)	Direct
2020-02-13	Stock Option (Right to Buy)	$155.34	A	25750	Acquired	2030-02-13	Common Stock (25750)	Direct
2020-02-13	Restricted Stock Units	$	A	2946	Acquired		Common Stock (2946)	Direct
2020-02-13	Performance Units	$	A	2947	Acquired		Common Stock (2947)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$144.69	2025-02-12	Common Stock (42000)	42000	Direct
Stock Option (Right to Buy)	$138.03	2026-02-11	Common Stock (42000)	42000	Direct
Stock Option (Right to Buy)	$168.70	2027-02-09	Common Stock (42000)	42000	Direct
Stock Option (Right to Buy)	$161.18	2028-02-15	Common Stock (28646)	28646	Direct
Stock Option (Right to Buy)	$155.92	2029-02-14	Common Stock (25750)	25750	Direct
Restricted Stock Units	$		Common Stock (2597)	2597	Direct
Performance Units	$		Common Stock (3326)	3326	Direct
Performance Units	$		Common Stock (3104)	3104	Direct

Footnotes

F1: Based on Company performance during the 2017-2019 period, approximately 62.0% of the performance units vested (as previously disclosed, the reporting person had the opportunity to earn up to 200% of the number originally reported, subject to plan limits).

F2: Shares were withheld to cover tax withholding upon the vesting of performance units.

F3: 1 for 1.

F4: Based on the Company's performance during fiscal 2019, the restricted stock units granted in fiscal 2019 were not earned and, as a result, the awards were forfeited.

F5: Original stock option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.

F6: This transaction was an option grant. Accordingly, the reporting person did not pay a price to obtain the option.

F7: The restricted stock units may be earned based on the achievement of certain Company goals during fiscal 2020. Assuming continued employment through the end of fiscal 2022, any units earned will then vest in one installment and the shares will be issued shortly thereafter. The target number of units that may be earned is reported above; the maximum number is 200% of the number reported, subject to plan limits.

F8: If the Company achieves certain goals over the 2020-2022 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.

F9: Option fully vested.

F10: The restricted stock units were earned based on Company performance during fiscal 2018. Assuming continued employment through the end of fiscal 2020, the units will then vest in one installment and the shares will be issued shortly thereafter.

F11: If the Company achieves certain goals over the 2018-2020 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.

F12: If the Company achieves certain goals over the 2019-2021 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.