Statement of Changes in Beneficial Ownership (4)
April 02 2020 - 5:46PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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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
*
Smith William M |
2. Issuer Name and Ticker or Trading Symbol
NORTHWEST PIPE CO
[
NWPX
]
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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) Exec VP, Water Transmission |
(Last)
(First)
(Middle)
201 NE PARK PLAZA DRIVE, SUITE 100 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
3/31/2020 |
(Street)
VANCOUVER, WA 98684
(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 | 3/31/2020 | | M | | 7558 | A | (1) | 30442 | D | |
Common Stock | 3/31/2020 | | F | | 2974 (2) | D | $22.25 | 27468 | 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 | (1) | | | | | | | (3) | (3) | Common Stock | 4483 | | 4483 | D | |
Performance Shares | (4) | 3/31/2020 | | M | | | 5557 | (5) | (5) | Common Stock | 7558 | (4) | 10672 | D | |
Explanation of Responses: |
(1) | Each Restricted Stock Unit represents a contingent right to receive one share of Northwest Pipe Company common stock. |
(2) | Represents shares withheld by the issuer for payment of taxes incurred upon vesting event consistent with company policy. |
(3) | The Restricted Stock Units vest in installments in January of 2021, 2022 and 2023. |
(4) | Performance Shares vest in an amount ranging from 0-150% to the extent such Performance Shares are earned. Performance Shares are earned based on Northwest Pipe Company's total EBITDA margin over the measurement period. |
(5) | Performance Shares vest in installments as follows: 2/3 on March 31, 2020 and 1/3 on March 31, 2021. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Smith William M 201 NE PARK PLAZA DRIVE SUITE 100 VANCOUVER, WA 98684 |
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| Exec VP, Water Transmission |
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Signatures
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/s/ William M. Smith | | 4/2/2020 |
**Signature of Reporting Person | Date |
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