James A. Lico - Jul 28, 2023 Form 4 Insider Report for Fortive Corp (FTV)

Signature
Daniel B. Kim, as attorney-in-fact
Stock symbol
FTV
Transactions as of
Jul 28, 2023
Transactions value $
-$3,631,553
Form type
4
Date filed
7/31/2023, 05:47 PM
Previous filing
Jul 5, 2023
Next filing
Oct 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FTV Common Stock Options Exercise $5.06M +186K +61.79% $27.26 486K Jul 28, 2023 Direct F1
transaction FTV Common Stock Tax liability -$8.69M -113K -23.23% $77.00 373K Jul 28, 2023 Direct F1

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 FTV Employee Stock Option (Right to Buy) Options Exercise $0 -186K -100% $0.00* 0 Jul 28, 2023 Common Stock 186K $27.26 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Under the terms of the Fortive 2016 Stock Incentive Plan, on the last trading day on which all or a portion of an outstanding option may be exercised, if as of the close of trading on such day the then closing market price of a share of Common Stock exceeds the per share exercise price of such option by at least $.01 (an "Auto-Exercise Eligible Option"), the holder of such option will be deemed to have automatically exercised ("Auto Exercise") such Auto-Exercise Eligible Option as of the close of trading, with the Registrant reducing the number of shares of common stock issued to the holder of such option in an amount necessary to satisfy (1) the exercise price obligation for the Auto-Exercise Eligible Option, and (2) the tax withholding requirements arising upon the Auto Exercise, in each case based on the market price as of the close of trading on the date of Auto Exercise. This transaction is being reported to disclose the Auto Exercise of the corresponding options.
F2 Prior to the separation of the Issuer from Danaher Corporation ("Danaher") on July 2, 2016 (the "Separation"), one-half of the stock options issued by Danaher on July 30, 2013 ("2013 Danaher Options") to the Reporting Person became exercisable on the fourth and fifth anniversary of the grant date. In connection with the Separation, the 2013 Danaher Options that remained outstanding as of July 2, 2016 were converted into stock options to purchase 154,258 shares of the Issuer's common stock with identical vesting schedule. In addition, the total number of stock options and the exercise price reflect an anti-dilution adjustment applied as a result of the spin-off of Vontier Corporation from the Issuer on October 9, 2020.