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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Performance Restricted Stock Unit (PRSU) | $ 0 (3) | 02/20/2014 | M(4) | 49,296 | (5) | (6) | Common Stock | 49,296 | $ 0 | 49,296 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Billerbeck Darin G 5555 N.E. MOORE CT. HILLSBORO, OR 97124 |
X | President & CEO |
By: Byron W. Milstead, Attorney-in-Fact For: Darin G. Billerbeck | 02/24/2014 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Restricted Stock Units - no purchase price for this transaction. |
(2) | These shares were retained by the Issuer in order to meet the tax withholding obligations of the Reporting Person in connection with the vesting of an installment of the restricted stock units. The amoun retained by the Issuer was not in excess of the amount of the tax liability. |
(3) | Each Restricted Stock Unit (RSU) represents a right to receive one share of the Issuers common shares without payment of specific consideration. |
(4) | The performance criteria related to 50% of the PRSUs granted vest on February 20, 2014 pursuant to the closing sale price of the Issuer's Common Stock exceeding the Grant Date closing price by ten percent (10%). |
(5) | Grants of the Performance Restricted Stock Units (PRSUs) vest as follows: (a) 50% of the PRSUs will vest on such later date as the closing sale price of the Issuer's Common Stock shall exceed the Grant Date closing price by ten percent (10%) and the date the Compensation Committee of the Board of Directors shall have certified the same; and (b) the remaining 50% of the PRSUs will vest on such later date as the closing sale price of the Issuer's Common Stock shall exceed the Grant Date closing price by twenty percent (20%) and the date the Compensation Committee of the Board of Directors shall have certified the same; provided, however, that such vesting with respect to either shall have occurred not more than seven (7) years from the date of grant or either grant of PRSUs with respect to which the performance condition has not been met shall forfeit. |
(6) | Not applicable. |