Paul F Clemens, First Midwest Bancorp's Executive Vice President, recently acquired 3,031 shares of the company. The buys took place at prices ranging from $0.00 to $24.17 per share, on March 15, 2017. Clemens now owns 92,795 shares of the company. Clemens operates out of Itasca, IL. Some additional info was provided as follows:
On February 20, 2013, the Issuer granted the Reporting Person a performance shares award under the Amended and Restated First Midwest Bancorp, Inc. Omnibus Stock and Incentive Plan, subject to a three year (2013-2015) performance period, as to which 5,291 performance shares were earned on March 15, 2016. The earned performance shares were scheduled to vest in three equal annual installments on the date earned and the first and second anniver
sary thereof. On March 15, 2017, the second installment of 1,763 of the originally earned performance shares vested and were paid in shares of First Midwest Bancorp, Inc. Common Stock, of which 807 shares were surrendered by the Reporting Person to satisfy tax withholding obligations. This form is being filed to reflect the surrender of such shares to satisfy the Reporting Person's tax withholding obligation.
Represents performance shares earned by the Reporting Person on March 15, 2017. The performance shares were granted by the Issuer to the Reporting Person under the Amended and Restated First Midwest Bancorp, Inc. Omnibus Stock and Incentive Plan on February 19, 2014, subject to a three year (2014-2016) performance period. Of the performance shares earned, 1,511 vested immediately and were paid in shares of First Midwest Bancorp, Inc. Common Stock. The remaining 3,018 earned performance shares represent the right to receive shares of First Midwest Bancorp, Inc. Common Stock upon satisfaction of a service-based vesting requirement and are scheduled to vest in two equal annual installments on March 15, 2018 and March 15, 2019.
Reflects the surrender of 691 shares of First Midwest Bancorp, Inc. Common Stock to satisfy the Reporting Person's tax withholding obligation in connection with the vesting of the first tranche of the earned performance shares described in note 2.
4,781 of these shares are restricted stock units / performance shares.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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