Statement of Changes in Beneficial Ownership (4)
August 26 2020 - 4:56PM
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
*
Bishop Michael S. |
2. Issuer Name and Ticker or Trading Symbol
FUELCELL ENERGY INC
[
FCEL
]
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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) EVP, CFO & Treasurer |
(Last)
(First)
(Middle)
C/O FUELCELL ENERGY, INC., 3 GREAT PASTURE ROAD |
3. Date of Earliest Transaction
(MM/DD/YYYY)
8/24/2020 |
(Street)
DANBURY, CT 06810
(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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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 |
Employee Restricted Stock Unit | $0 (1) | 8/24/2020 | | A | | 18723 | | (2) | (2) | Common Stock | 18723 | $0 | 18723 | D | |
Employee Performance Share Unit | $0 | 8/24/2020 | | A | | 37446 | | (3) | (3) | Common Stock | 37446 | $0 | 37446 | D | |
Employee Performance Share Unit | $0 | 8/24/2020 | | A | | 37446 | | (4) | (4) | Common Stock | 37446 | $0 | 37446 | D | |
Explanation of Responses: |
(1) | Each Restricted Stock Unit represents a contingent right to receive one share of common stock upon vesting of the Restricted Stock Unit. |
(2) | On August 24, 2020, the reporting person was granted restricted stock units, which vest 1/3 on each of the first, second and third anniversaries of the date of grant, subject to continued employment. |
(3) | On August 24, 2020, the reporting person was granted performance shares which will be earned based on performance over the three-year performance period ending October 31, 2022, subject to continued employment until the third anniversary of the grant date. The performance goal is the TSR of the Company relative to the TSR of the Russell 2000 during the performance period. The maximum number of performance shares that can be earned based on performance is two times the target number reported in the table above. |
(4) | On August 24, 2020, the reporting person was granted performance shares which will be earned based on performance over the three-year performance period ending October 31, 2022, subject to continued employment until the third anniversary of the grant date. The performance goal is an increase in the Company's stock price during the performance period. The maximum number of performance shares that can be earned based on performance is two times the target number reported in the table above. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Bishop Michael S. C/O FUELCELL ENERGY, INC. 3 GREAT PASTURE ROAD DANBURY, CT 06810 |
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| EVP, CFO & Treasurer |
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Signatures
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Jacqueline Perez-Ares, As Power of Attorney | | 8/26/2020 |
**Signature of Reporting Person | Date |
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