Allen E Dillard, an insider of Lakeland Industries, just received 4,923 restricted shares from the company. The restricted shares don't become available to Dillard until such time as they become vested. Dillard now owns at least 21,523 restricted shares of the company.
Some additional info was provided as follows:
The reporting person was granted restricted stock units ("RSU") which represents a contingent right to receive one share of Common Stock, par value $.01 per share, of the issuer for each RSU. The RSU's vest 1/3 on the first anniversary of the date of grant, 1/3 at the end of the second year of the performance period and 1/3 at the end of the third year of the performance period; provided that, the reporting person remains in continuous service throu gh the vesting date. These RSU's are part of a larger grant of RSU's, the vesting of the remainder of which is subject to achievement of certain performance conditions, as well as continued service through the vesting date.
Includes 16,600 stock options that were previously reported.
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:
Lakeland: Press Release Dated October 19, 2021 - Oct. 20, 2021