Barry M. Mandinach, Virtus Investment Partners's EVP Head of Distribution, recently acquired 2,610 shares of the company. The buys took place at $0.00 per share (and therefore, likely the result of option or restricted share grants), on March 15, 2016. Mandinach now owns 8,669 shares of the company. Mandinach operates out of Hartford, CT. Some additional info was provided as follows:
These shares comprise an award of restricted stock units ("RSUs") granted to the reporting person pursuant to the Company's 2016 Long Term Incentive Plan. Subject to acceleration in certain circumstances, the RSUs are scheduled to cliff vest on March 15, 2019 and will be settled for shares of common stock on a one-for-one basis upon vesting.
This number includes (i) 2,654 RSUs scheduled
to cliff vest on May 19, 2017, (ii) 3,405 RSUs scheduled to vest ratably over three years, with one-third vesting on each anniversary of the Grant date (1,135 RSUs on May 18, 2016, 1,135 RSUs on May 18, 2017 and 1,135 RSUs on May 18, 2018) and (iii) 2,610 RSUs scheduled to cliff vest on March 15, 2019. RSUs will be settled for shares of common stock on a one-for-one basis upon vesting.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
To receive a free e-mail notification whenever Virtus Investment Partners makes a similar move, sign up!
Other recent filings from the company include the following: