UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF 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 |
|
| ||||||||||||||||||||||||||||||
|
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
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. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Restricted Share Units | (2) | (2) | Class A Common Stock | 2,800 | $ 0 | D | |
Restricted Share Units | (3) | (3) | Class A Common Stock | 3,000 | $ 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Awenowicz Ronald C TWO NORTHSHORE CENTER PITTSBURGH, PA 15212 |
SVP, Global Compliance & HR |
/s/ Brian D. Walters (Attorney-in-Fact) | 07/12/2021 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(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) | 310 of these shares are restricted shares that vest upon certain appreciation levels of the Company's stock price. Shares that do not achieve the stock price thresholds will be forfeited on the fifth anniversary of the grant. |
(2) | In general, a portion of these restricted share units vest three years from grant date; a portion of these restricted share units vest at target based upon the Company achieving certain metrics based on Return on Invested Capital ("ROIC"); and a portion of these restricted share units vest at target based upon the Company achieving certain metrics based on adjusted earnings per share. Vesting of all units are generally subject to continuing employment for three years after grant date. Upon vesting, time-based units will be converted to an equal number of shares of the Company's common stock; performance based units will be converted to the Company's common stock using a factor ranging from 50% to 200% based upon the level of achievement of the performance thresholds related to the above targets. Performance related units that do not achieve the ROIC or adjusted earnings per share thresholds will be forfeited on the third anniversary of the grant. |
(3) | In general, a portion of these restricted share units vest three years from grant date; a portion of these restricted share units vest at target based upon the Company achieving certain metrics based on Return on Invested Capital ("ROIC"); and a portion of these restricted share units vest at target based upon stock price appreciation thresholds for the Company's common stock. Vesting of all units are generally subject to continuing employment for three years after grant date. Upon vesting, time-based units will be converted to an equal number of shares of the Company's common stock; performance based units will be converted to the Company's common stock using a factor ranging from 50% to 200% based upon the level of achievement of the performance thresholds related to the above targets. Performance related units that do not achieve the ROIC or stock price appreciation thresholds will be forfeited on the third anniversary of the grant. |
Remarks: The Power of Attorney dated June 9, 2021 is filed herewith. |