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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 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 | ||||||||
Restricted Stock Units | (2) | 08/24/2020 | A(3) | 180,000 | (3) | 08/24/2023 | Common Stock | 180,000 | $ 0 | 180,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Dilorio Richard 3851 WEST HAMLIN ROAD ROCHESTER HILLS, MI 48309 |
X | President & CEO |
/s/Kevin Whitman, Attorney-in-Fact for Richard Dilorio | 08/25/2020 | |
**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) | Service-based restricted stock award which vests 10,000 restricted stock units on the first anniversary of the date of grant, and the remaining 10,000 restricted stock units on the second anniversary of the date of grant. |
(2) | Restricted stock units convert into common stock on a one-for-one basis. |
(3) | Performance-based restricted stock award which will vest on the date which the Company stock price has achieved an applicable closing price for 10 consecutive trading days during a performance period beginning on the date of the grant and ending on the third anniversary of the date of grant. The award is divided into three equal tranches of 60,000 shares each having a different applicable closing price of $18.00, $20.00 and $22.00, respectively. |