Statement of Changes in Beneficial Ownership (4)

Date : 10/15/2019 @ 11:15PM
Source : Edgar (US Regulatory)
Stock : Hanger Inc (HNGR)
Quote : 26.63  -0.17 (-0.63%) @ 9:01PM
After Hours
Last Trade
Last $ 26.63 ◊ 0.00 (0.00%)

Statement of Changes in Beneficial Ownership (4)

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
                                                                                  
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
                      

1. Name and Address of Reporting Person *

Liang Samuel M.
2. Issuer Name and Ticker or Trading Symbol

HANGER, INC. [ HNGR ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Executive Vice President*
(Last)          (First)          (Middle)

10910 DOMAIN DRIVE, SUITE 300
3. Date of Earliest Transaction (MM/DD/YYYY)

10/11/2019
(Street)

AUSTIN, TX 78758
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock  10/11/2019    F(1)    492  D $19.22  157326 (2)(3)(4)(5) D   

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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
Stock Options (right to buy)  $12.77                   (6) 5/19/2027  Common Stock  72231    72231  D   
Performance Share Units   (7)                  (7) 5/19/2020  Common Stock  28892    28892  D   

Explanation of Responses:
(1)  Reflects payment of tax liability by withholding shares of stock incident to vesting of restricted stock previously issued.
(2)  Includes (i) unvested restricted shares totaling 16,963 shares of stock from an initial grant of 16,963 shares of restricted stock that begins to vest on March 8, 2020; (ii) unvested restricted shares and fully vested shares totaling 14,847 shares of stock from an initial grant of 16,468 shares of restricted stock that begins to vest on March 9, 2019; (iii) unvested restricted shares and fully vested shares totaling 19,861 shares of stock from an initial grant of 23,625 shares of restricted stock, the remainder of which will vest on March 8, 2020 and 2021; (iv) unvested restricted shares and fully vested shares totaling 18,664 shares of stock from an initial grant of 20,701 shares of restricted stock that begins to vest on March 9, 2019; [continued in next footnote]
(3)  (v) fully vested shares totaling 18,652 shares of stock from an initial grant of 20,666 shares of restricted stock made on March 6, 2015; (vi) unvested restricted shares and fully vested shares totaling 18,916 shares of stock from an initial grant of 22,500 shares of restricted stock that begins to vest on March 8, 2018; (vii) unvested restricted shares and fully vested shares totaling 4,203 shares of stock from an initial grant of 5,000 shares of restricted stock that begins to vest on October 11, 2017; [continued in next footnote]
(4)  (viii) unvested restricted shares and fully vested shares totaling 20,286 shares of stock from an initial grant of 22,500 shares of restricted stock that begins to vest on March 7, 2017; (ix) fully vested shares totaling 12,318 shares of stock from an initial grant of 13,777 shares of restricted stock made on March 6, 2015 and (x) fully vested shares totaling 12,616 shares of stock from an initial grant of 14,745 shares of restricted stock made on May 19, 2014.
(5)  Except as otherwise noted, all remaining unvested restricted shares will continue to vest at a rate of 25% per year of the original grant amount on the anniversary date of the grant.
(6)  Stock options were granted under the Company's Special Equity Plan and vest 1/3 on each of May 19, 2018, 2019 and 2020.
(7)  Performance share units ("PSUs") were granted under the Company's Special Equity Plan. Each PSU represents a contingent right to receive one share of common stock if predetermined levels of absolute common stock price compounded annual growth rate are achieved over a three-year performance period ending on the third anniversary of the grant date. The number of PSUs shown in the table represents the maximum number that could be earned; the target number is one-half the maximum number.

Remarks:
* The reporting person is Executive Vice President of Hanger, Inc. and President and Chief Operating Officer of Hanger Prosthetics & Orthotics, Inc.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Liang Samuel M.
10910 DOMAIN DRIVE, SUITE 300
AUSTIN, TX 78758


Executive Vice President*

Signatures
/s/ Jessica Lochmann Allen, Attorney-in-Fact for Samuel M. Liang 10/15/2019
**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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