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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Employee Stock Option (right to buy) | $ 5.75 | 05/15/2017 | A | 24,900 | 05/15/2018 | 05/15/2027 | Common Stock | 24,900 | $ 0 | 24,900 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Laubacker John M 800 DELAWARE AVENUE BUFFALO, NY 14209 |
Chief Financial Officer & SVP |
Peter Radetich attorney for John M Laubacker | 05/15/2017 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The reporting person received a total of 24175 shares of restricted stock. 16175 restricted shares vest over a three year period as follows: (i) 50% of the amount of the award will vest only if the thirty trading day average closing price of the Company's common stock equals or exceeds a 50% increase in its stock price in the three year period from the date of grant, and (ii) the remaining 50% of the amount of the award will vest only if the thirty trading day average closing price of the Company's common stock equals or exceeds a 100% increase in its stock price in the three year period from the date of grant. The remaining 8000 restricted shares as well as 24900 NQSOs were awarded on a one time basis to the reporting person upon his promotion to Senior Vice President and Chief Financial Officer and will vest in four equal annual increments beginning one year from the date of grant |