Julie Schertell - Jul 6, 2022 Form 4 Insider Report for Neenah Inc (NP)

Signature
/s/ Julie Schertell
Stock symbol
NP
Transactions as of
Jul 6, 2022
Transactions value $
$0
Form type
4
Date filed
7/29/2022, 04:08 PM
Previous filing
Feb 11, 2022
Next filing
Aug 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NP Common Stock Disposed to Issuer -14.4K -100% 0 Jul 6, 2022 Direct F1
transaction NP Common Stock Disposed to Issuer -22.8K -100% 0 Jul 6, 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 NP Performance Share Units Disposed to Issuer -67.6K -100% 0 Jul 6, 2022 Common Stock 67.6K Direct F3, F4, F5
transaction NP Stock Appreciation Rights Disposed to Issuer -4.37K -100% 0 Jul 6, 2022 Common Stock 4.37K Direct F6, F7, F8
transaction NP Stock Appreciation Rights Disposed to Issuer -6K -100% 0 Jul 6, 2022 Common Stock 6K Direct F6, F7, F8
transaction NP Stock Appreciation Rights Disposed to Issuer -4.9K -100% 0 Jul 6, 2022 Common Stock 4.9K Direct F6, F7, F8
transaction NP Stock Appreciation Rights Disposed to Issuer -7.09K -100% 0 Jul 6, 2022 Common Stock 7.09K Direct F6, F7, F8
transaction NP Stock Appreciation Rights Disposed to Issuer -4.38K -100% 0 Jul 6, 2022 Common Stock 4.38K Direct F6, F7, F8
transaction NP Stock Appreciation Rights Disposed to Issuer -7.19K -100% 0 Jul 6, 2022 Common Stock 7.19K Direct F6, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Julie Schertell is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 These shares of common stock were disposed of pursuant to the Agreement and Plan of Merger, dated as of March 28, 2022 (the "Merger Agreement") by and among Neenah, Inc. ("Neenah"), Samurai Warrior Merger Sub, Inc. and Mativ Holdings, Inc. (f/k/a Schweitzer-Mauduit International, Inc., "Mativ") in exchange for shares of Mativ common stock, at a rate of 1.358 shares of Mativ common stock for each share of Neenah common stock. The closing price of Mativ common stock on the New York Stock Exchange on July 6, 2022, the effective date of the merger (the "Effective Date"), was $22.41.
F2 These shares were subject to Neenah restricted stock units, which, pursuant to the Merger Agreement on the Effective Date, automatically converted into Mativ restricted stock units in respect of that number of shares of Mativ common stock (rounded down to the nearest whole share) equal to the product of the number of shares of Neenah common stock subject to the Neenah restricted stock unit award immediately prior to the Effective Time and 1.358. Each such Mativ restricted stock unit award is subject to the same terms and conditions as applied to the corresponding Neenah restricted stock unit award immediately prior to the Effective Time.
F3 Pursuant to the Merger Agreement, on the Effective Date, these Neenah performance share units automatically converted into Mativ restricted stock unit awards with respect to that number of shares of Mativ common stock (rounded down to the nearest whole share) equal to the product of the number of shares of Neenah common stock subject to such Neenah performance share units immediately prior to the Effective Time and 1.358 and are convertible into shares of Mativ common stock on a one-for-one basis on the applicable vesting dates.
F4 Each such Mativ restricted stock unit award is scheduled to cliff vest, subject to continued service, on the last day of the originally scheduled performance period, but subject to earlier payment and vesting in accordance with the applicable Neenah performance share award agreement. Otherwise, each such Mativ restricted stock unit award is subject to the same terms and conditions as applied to the corresponding Neenah performance share award immediately prior to the Effective Time.
F5 The performance share units do not have an expiration date.
F6 Pursuant to the Merger Agreement, on the Effective Date, these Neenah stock appreciation rights automatically converted into Mativ stock appreciation rights with respect to that numbers of shares of Mativ common stock (rounded down to the nearest whole share) equal to the product of the number of shares of Neenah common stock subject to such stock appreciation rights immediately prior to the Effective Time and 1.358; provided, however, that the exercise price and the number of shares of SWM Common Stock will be determined in a manner consistent with the requirements of Section 409A of the Code.
F7 Pursuant to the Merger Agreement, on the Effective Date, these Neenah stock appreciation rights automatically converted into Mativ stock appreciation rights with respect to that number of shares of Mativ common stock (rounded down to the nearest whole share) equal to the product of the number of shares of Neenah common stock subject to such Neenah stock appreciation rights immediately prior to the Effective Time and 1.358.
F8 The Stock Appreciation Rights are fully vested.