Statement of Changes in Beneficial Ownership (4)
March 02 2022 - 5:04PM
Edgar (US Regulatory)
FORM 4
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
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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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1. Name and Address of Reporting Person
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Skenesky John P |
2. Issuer Name and Ticker or Trading Symbol
MCGRATH RENTCORP
[
MGRC
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) VP and Division Manager |
(Last)
(First)
(Middle)
5700 LAS POSITAS ROAD |
3. Date of Earliest Transaction
(MM/DD/YYYY)
2/28/2022 |
(Street)
LIVERMORE, CA 94551
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock | 2/28/2022 | | M | | 1740 (3) | A | $0 | 10119 | D | |
Common Stock | 2/28/2022 | | M | | 501 | A | $0 | 10620 | D | |
Common Stock | 2/28/2022 | | M | | 520 | A | $0 | 11140 | D | |
Common Stock | 2/28/2022 | | F | | 711 | D | $81.28 | 10429 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. 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 | 7. Title and Amount of Securities Underlying Derivative Security (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) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Unit | $0 | 2/28/2022 | | M | | | 1740 | (1) | 2/28/2026 | Common Stock | 1740 | $0 | 0 | D | |
Restricted Stock Unit | $0 | 2/28/2022 | | M | | | 501 | (2) | 2/28/2026 | Common Stock | 501 | $0 | 0 | D | |
Restricted Stock Unit | $0 | 2/28/2022 | | M | | | 520 | (2)(4) | 2/27/2027 | Common Stock | 520 | $0 | 521 | D | |
Explanation of Responses: |
(1) | Unless earlier forfeited under the terms of the performance based RSU, each RSU vests and converts into no less than 50% and no more than 200% of one share of McGrath RentCorp common stock. The RSUs vest 100% at the end of the three-year performance period if the performance goal is satisfied. |
(2) | The restricted stock unit shall vest 33% on the first annual anniversary of the grant; 33% on the second annual anniversary of the grant; and 34% on the third annual anniversary of the grant. Each restricted stock unit represents a right to receive one share of common stock or an amount equal to the fair market value of the common stock underlying the unit on the vesting date. |
(3) | Shares acquired upon vesting of performance based RSUs. Each vested RSU converts into 116% of one share of McGrath RentCorp common stock. |
(4) | The conversion price of the RSUs was based on the closing price of McGrath RentCorp common stock on February 28, 2022 and therefore such date is determined to be the date exercisable. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Skenesky John P 5700 LAS POSITAS ROAD LIVERMORE, CA 94551 |
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| VP and Division Manager |
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Signatures
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David Whitney, POA for John Skenesky | | 3/2/2022 |
**Signature of Reporting Person | Date |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. |
* | 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). |
Note: | File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. |
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. |
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