Cristin C. Bracken - 06 Feb 2024 Form 4 Insider Report for Gates Industrial Corp plc (GTES)

Role
EVP, Chief Legal Officer
Signature
/s/ Hillary Barrett-Osborne
Issuer symbol
GTES
Transactions as of
06 Feb 2024
Net transactions value
-$35,834
Form type
4
Filing time
08 Feb 2024, 17:37:07 UTC
Previous filing
31 Jul 2023
Next filing
27 Feb 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GTES Ordinary Shares Options Exercise $0 +6,473 +20% $0.000000 39,470 06 Feb 2024 Direct F1
transaction GTES Ordinary Shares Tax liability $35,834 -2,725 -6.9% $13.15 36,745 06 Feb 2024 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 GTES Performance-Based Restricted Stock Units (PBRSU) Options Exercise $0 -6,473 -68% $0.000000 3,047 06 Feb 2024 Ordinary Shares 6,473 Direct F1, F3
transaction GTES Performance-Based Restricted Stock Units (PBRSU) Disposed to Issuer $0 -3,047 -100% $0.000000* 0 06 Feb 2024 Ordinary Shares 3,047 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the number of ordinary shares vested pursuant to the performance-based restricted stock unit ("PBRSU") award granted on February 26, 2021, following the Compensation Committee's certification on February 6, 2024 of the Company's achievement of 68% of the three year performance measure, which was based 50% on total shareholder return with relative measures and 50% on adjusted return on invested capital.
F2 Represents ordinary shares withheld to satisfy certain tax and par value withholdings in connection with the vesting of the PBRSUs.
F3 Each PBRSU represents a contingent right to receive one ordinary share.
F4 Represents the portion of the PBRSU award granted on February 26, 2021 that did not vest and was forfeited in connection with the certification described above.