Leroy D Nosbaum, a director of Quanex Building Products Corporation, recently cashed-in 3,610 options. The options were exercised at $0.00, while the disposals took place at $15.31 per share, on November 01, 2018. Nosbaum continues to hold 2,500 shares of the company. Nosbaum operates out of Houston, TX. Some additional info was provided as follows:
Represents the total number of restricted stock units that were settled in cash pursuant to their terms.
Each restricted stock unit represents a contingent right to receive cash in an amount equivalent to the value of one share of NX common stock.
The restricted stock unit will vest immediately, but will not become payable until the director's death, disability, or cessation of service on the board, or in the event of a c
hange in control.
The restricted stock unit vested immediately and became payable on the one-year anniversary of its grant, pursuant to the payment election made by the grantee.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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