Ivo Jurek - Dec 20, 2021 Form 4 Insider Report for Gates Industrial Corp plc (GTES)

Role
Chief Executive Officer, Director
Signature
/s/ Hillary Barrett-Osborne
Stock symbol
GTES
Transactions as of
Dec 20, 2021
Transactions value $
-$161,768
Form type
4
Date filed
2/1/2022, 05:43 PM
Next filing
Feb 23, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GTES Ordinary Shares Options Exercise $0 +37.2K +15.31% $0.00 280K Jan 28, 2022 Direct F1
transaction GTES Ordinary Shares Tax liability -$162K -10.8K -3.84% $15.03 269K Jan 28, 2022 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GTES Performance-Based Restricted Stock Units (PBRSU) Options Exercise $0 -37.2K -40% $0.00 55.8K Jan 28, 2022 Ordinary Shares 37.2K Direct F1, F3
transaction GTES Performance-Based Restricted Stock Units (PBRSU) Disposed to Issuer $0 -55.8K -100% $0.00* 0 Jan 28, 2022 Ordinary Shares 55.8K Direct F3, F4
transaction GTES Employee Stock Options (Right to Buy) Gift $0 -1.02M -100% $0.00* 0 Dec 20, 2021 Ordinary Shares 1.02M $6.56 Direct F5, F6
transaction GTES Employee Stock Options (Right to Buy) Gift $0 +1.02M $0.00 1.02M Dec 20, 2021 Ordinary Shares 1.02M $6.56 By Trust F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the number of ordinary shares vested pursuant to the performance-based restricted stock unit ("PBRSU") award granted on February 22, 2019 and reported on the Form 4 filed with the Securities and Exchange Commission on February 26, 2019, following the Compensation Committee's certification on January 28, 2022 of the Company's achievement of 40% of the three year performance measure, which was based 50% on total shareholder return with relative measures and 50% on adjusted return on invested capital.
F2 Represents ordinary shares withheld to satisfy certain tax and par value withholdings in connection with the vesting of the PBRSUs.
F3 Each PBRSU represents a contingent right to receive one ordinary share.
F4 Represents the portion of the PBRSU award granted on February 22, 2019 that did not vest and was forfeited in connection with the certification described above.
F5 On December 20, 2021, the reporting person transferred these vested, unexercised stock options to an irrevocable family trust for estate planning purposes. No exercises, purchases or sales of securities are being reported in connection with this transaction.
F6 The option vested in five roughly equal annual installments beginning on May 18, 2016.