Andrews P Hines, a director of Schmitt Industries, recently acquired 7,917 shares of the company. The buys took place at $0.00 per share, on September 27, 2019. Hines now owns 7,917 shares of the company. Hines operates out of Portland, OR. Some additional info was provided as follows:
Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Company's common stock.
One tranche of 5,000 RSUs vest if the 15-day trading average closing price of the Company's common stock is greater than or equal to the target price of $2.70 and seven tranches of 3,000 RSUs vest if the 15-day trading average closing price of the Company's common stock is greater than or equal to the target price of $2.90, $3.10, $3.30, $3.50, $3.70, $3.90 and $4.10.
Us vested on December 24, 2018, pursuant to the terms of the Strategic Advisory Committee charter.
RSUs granted in lieu of other board compensation for the July 30, 2019 Board meetings and vested immediately.
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: