Thomas G. Pitstick - 12 Feb 2023 Form 4 Insider Report for Gates Industrial Corp plc (GTES)

Role
Chief Marketing Officer & SVP
Signature
/s/ Hillary Barrett-Osborne
Issuer symbol
GTES
Transactions as of
12 Feb 2023
Net transactions value
-$20,541
Form type
4
Filing time
14 Feb 2023, 15:38:13 UTC
Previous filing
29 Jul 2022
Next filing
23 Feb 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GTES Ordinary Shares Options Exercise $0 +4,341 +14% $0.000000 34,412 12 Feb 2023 Direct F1
transaction GTES Ordinary Shares Tax liability $20,541 -1,481 -4.3% $13.87 32,931 12 Feb 2023 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 -4,341 -42% $0.000000 5,995 12 Feb 2023 Ordinary Shares 4,341 Direct F1, F3
transaction GTES Performance-Based Restricted Stock Units (PBRSU) Disposed to Issuer $0 -5,995 -100% $0.000000* 0 12 Feb 2023 Ordinary Shares 5,995 Direct F3, F4
* 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 21, 2020 and reported on the Form 3 filed with the Securities and Exchange Commission on March 2, 2021, following the Compensation Committee's certification on February 12, 2023 of the Company's achievement of 42% 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 21, 2020 that did not vest and was forfeited in connection with the certification described above.