Thomas G. Pitstick - Feb 6, 2024 Form 4 Insider Report for Gates Industrial Corp plc (GTES)

Role
Chief Strategy Officer
Signature
/s/ Hillary Barrett-Osborne
Stock symbol
GTES
Transactions as of
Feb 6, 2024
Transactions value $
-$32,257
Form type
4
Date filed
2/8/2024, 05:37 PM
Previous filing
Jul 31, 2023
Next filing
Feb 27, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GTES Ordinary Shares Options Exercise $0 +7.19K +11.56% $0.00 69.4K Feb 6, 2024 Direct F1
transaction GTES Ordinary Shares Tax liability -$32.3K -2.45K -3.53% $13.15 66.9K Feb 6, 2024 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 -7.19K -68% $0.00 3.39K Feb 6, 2024 Ordinary Shares 7.19K Direct F1, F3
transaction GTES Performance-Based Restricted Stock Units (PBRSU) Disposed to Issuer $0 -3.39K -100% $0.00* 0 Feb 6, 2024 Ordinary Shares 3.39K 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 26, 2021, following the Compensation Committee's certification on February 6, 2024 of the Company's achievement of 68% 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 26, 2021 that did not vest and was forfeited in connection with the certification described above.