Statement of Changes in Beneficial Ownership (4)
December 02 2020 - 5:20PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB Number:
3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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HINES ANDREWS P |
2. Issuer Name and Ticker or Trading Symbol
SCHMITT INDUSTRIES INC
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SMIT
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
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(Last)
(First)
(Middle)
2765 NW NICOLAI ST |
3. Date of Earliest Transaction
(MM/DD/YYYY)
4/14/2020 |
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(Street)
PORTLAND, OR 97210
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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| Common Stock | 4/14/2020 | | A | | 2188 (1) | A | $0 | 44776 (2) | D | |
| Common Stock | 7/24/2020 | | M | | 3000 (3) | A | $0 | 47776 | D | |
| Common Stock | 7/29/2020 | | M | | 3000 (4) | A | $0 | 50776 | D | |
| Common Stock | 8/28/2020 | | A | | 1318 (1) | A | $0 | 52094 | D | |
| Common Stock | 10/27/2020 | | A | | 12111 (1) | A | $0 | 53305 | D | |
| Common Stock | 7/4/2020 | | A | | 10000 (5) | A | $0 | 10000 | I | See footnote (6) |
| Common Stock | 10/5/2020 | | A | | 5779 (7) | A | $0 | 15779 | I | See footnote (6) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. 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 | 7. Title and Amount of Securities Underlying Derivative Security
(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) |
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
| RSUs | (8) | 7/24/2020 | | M | | | 3000 | (3) | (3) | Common Stock | 3000 | $0 | 3000 | D | |
| RSUs | (8) | 7/29/2020 | | M | | | 3000 | (4) | (4) | Common Stock | 3000 | $0 | 0 | D | |
| Explanation of Responses: |
| (1) | On the Transaction Date, the Reporting Person was granted the immediately vested shares as compensation for service on the Issuer's board of directors. |
| (2) | The Reporting Person's Form 4 filed on March 2, 2020 contained an error in the amount of securities benefically owned after the transaction reported. The current Form 4 reflects a correction to the amount of securities beneficially owned. |
| (3) | One tranche of 3,000 restricted stock units ("RSUs") vested based on the 15-day trading average closing price of the Issuer's common stock being greater than or equal to $3.90. |
| (4) | One tranche of 3,000 RSUs vested based on the 15-day trading average closing price of the Issuer's common stock being greater than or equal to $4.10. |
| (5) | The transaction reflects the grant of 10,000 restricted stock units which vest in December 2020. |
| (6) | Reported securities held by the Reporting Person's spouse. |
| (7) | On the Transaction Date, the Reporting Person's spouse was granted the immediately vested shares as compensation for service to the Issuer. |
| (8) | Each RSU represents a contingent right to receive one share of the Issuer's common stock. |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
HINES ANDREWS P
2765 NW NICOLAI ST
PORTLAND, OR 97210 | X |
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Signatures
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| /s/Andrew P. Hines | | 12/2/2020 |
| **Signature of Reporting Person | Date |
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