Scott J Vassalluzzo, a major owner of Vistaprint N.V. and a director of the company, just received 1,165 restricted shares from the company. The restricted shares don't become available to Vassalluzzo until November 15, 2028. Vassalluzzo now owns at least 1,165 restricted shares of the company.
Some additional info was provided as follows:
Each of these performance share units (PSU) represents a right to receive between 0 and 2.5 Cimpress ordinary shares upon the satisfaction of both (A) service-based vesting and (B) performance conditions relating to the compound annual growth rate (CAGR) of the three-year moving average daily price per share of Cimpress' ordinary shares (3YMA). The service-based vesting condition is that 25% of the original number of PSUs vest
on each November 12 of 2019 through 2022 so long as the reporting person continues to be an eligible participant under Cimpress' 2016 Performance Incentive Plan on such vesting date. If the 3YMA CAGR equals or exceeds 11% on any of the sixth through tenth anniversaries of the grant date, then the reporting person is entitled to receive a distribution of up to 2.5 Cimpress ordinary shares for each vested PSU on a sliding scale based on the actual CAGR performance.
This dollar amount is the 3YMA on the date of grant, which is the baseline against which the CAGR of the 3YMA will be measured.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following:
Vistaprint N.V.'s EVP & Chief Technology Officer was just granted 13,294 restricted shares - July 2, 2020
EVP of Vistaprint N.V. was just granted 15,953 restricted shares - July 2, 2020
Vistaprint: Cimpress Provides Fourth Quarter Fiscal Year 2020 Financial Update - June 17, 2020