Matthew Stevenson - 01 Jul 2021 Form 4 Insider Report for Blue Bird Corp (BLBD)

Role
President
Signature
/s/ Paul Yousif as attorney-in-fact
Issuer symbol
BLBD
Transactions as of
01 Jul 2021
Net transactions value
$0
Form type
4
Filing time
01 Jul 2021, 09:13:43 UTC
Next filing
14 Dec 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BLBD Common Stock Award $0 +40,000 $0.000000 40,000 01 Jul 2021 Direct F1, F2, F3, F4
transaction BLBD Common Stock Award $0 +40,000 +100% $0.000000 80,000 01 Jul 2021 Direct F1, F3, F4, F5
transaction BLBD Common Stock Award $0 +40,000 +50% $0.000000 120,000 01 Jul 2021 Direct F1, F3, F4, F6
transaction BLBD Common Stock Award $0 +40,000 +33% $0.000000 160,000 01 Jul 2021 Direct F1, F3, F4, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The award represents a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the common stock of Blue Bird Corporation.
F2 The RSU's vest on December 11, 2022 subject to downward adjustments consistent with fiscal year 2022 adjusted EBITDA. If adjusted EBITDA is less than $85 million, then the no RSU's will vest. If adjusted EBITDA is $85 million but less than $100 million, then 50% of the RSU's will vest. If adjusted EBITDA is $100 million or more, then 100% will vest.
F3 Any RSU's that do not vest in fiscal years 2022-2025, but in no event more than 40,000 RSU's, may vest on December 11, 2026 if fiscal year adjusted EBITDA is $100 million or greater.
F4 In no event shall more than 100% of the Restricted Shares vest. In the event of a Change of Control as defined in the Plan, 20% of unvested Restricted Shares shall vest, unless the average closing price of the Company's common stock over the 30-day period prior to the Change of Control is $30.00 or higher, in which case all unvested Restricted Shares shall vest.
F5 The RSU's vest on December 11, 2023 subject to downward adjustments consistent with fiscal year 2023 adjusted EBITDA. If adjusted EBITDA is less than $85 million, then the no RSU's will vest. If adjusted EBITDA is $85 million but less than $100 million, then 50% of the RSU's will vest. If adjusted EBITDA is $100 million or more, then 100% will vest.
F6 The RSU's vest on December 11, 2024 subject to downward adjustments consistent with fiscal year 2024 adjusted EBITDA. If adjusted EBITDA is less than $100 million, then the no RSU's will vest. If adjusted EBITDA is $100 million or more, then 100% will vest.
F7 The RSU's vest on December 11, 2025 subject to downward adjustments consistent with fiscal year 2025 adjusted EBITDA. If adjusted EBITDA is less than $100 million, then the no RSU's will vest. If adjusted EBITDA is $100 million or more, then 100% will vest.