Sylvia Ann Stein - May 28, 2021 Form 4 Insider Report for MODINE MANUFACTURING CO (MOD)

Role
VP, GC, Corp. Sec. and CCO
Signature
Sylvia A. Stein
Stock symbol
MOD
Transactions as of
May 28, 2021
Transactions value $
-$23,852
Form type
4
Date filed
6/2/2021, 05:33 PM
Next filing
Jun 8, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MOD Common stock Award $0 +4.61K +11.95% $0.00 43.2K May 28, 2021 Direct F1
transaction MOD Common stock Tax liability -$13.9K -789 -1.83% $17.59 42.4K May 29, 2021 Direct F2
transaction MOD Common stock Tax liability -$9.97K -567 -1.34% $17.59 41.9K May 30, 2021 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The performance period for Performance Stock under the long-term incentive compensation plan initiated in May 2018 terminated in calendar 2021. The amount of the award varied based upon the achievement of Threshold, Target or Maximum levels. Under that plan, the Company used two measures to determine the payouts: Cash Flow Return on Invested Capital (CFROIC) and Average Annual Revenue Growth. The Company's CFROIC for the performance period was 11.1% which exceeded the Target level for that performance measure. As a result, in accordance with the long-term incentive compensation plan, the Company issued shares of unrestricted stock at approximately 59% of the Target.
F2 Shares disposed of in a private transaction to cover tax withholding.