Statement of Changes in Beneficial Ownership (4)
July 02 2020 - 7:34PM
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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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
*
Huckins Scott E. |
2. Issuer Name and Ticker or Trading Symbol
SunOpta Inc.
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STKL
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CFO |
(Last)
(First)
(Middle)
7301 OHMS LANE, SUITE 600 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
6/30/2020 |
(Street)
EDINA, MN 55439
(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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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 |
Performance Stock Units | (1) | 6/30/2020 | | A | | 150822 | | (2) | 4/22/2021 | Common Shares | 150822 | $0.00 | 150822 | D | |
Explanation of Responses: |
(1) | Each Performance Stock Unit represents a contingent right to receive one share of STKL common stock. |
(2) | The Performance Stock Units ("PSUs") vest on April 22, 2021 based upon the Company's gross Adjusted EBITDA (the "Performance Measure") for its 2020 fiscal year. If the Performance Measure is less than $69.8 million, none of the PSUs will vest and the PSUs will expire. If the Performance Measure is at or greater than $69.8 million, a percentage of the PSUs, ranging from 50% to 100%, will vest in accordance with a vesting table and the remaining PSUs will expire. The vested amount increases by one percentage point for each level of Adjusted EBITDA achieved, as specified in the vesting table. If the Performance Measure is greater than or equal to $82.72 million, all of the PSUs will vest. Vesting is also subject to individual performance and continued employment of the reporting person through the vesting date. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Huckins Scott E. 7301 OHMS LANE SUITE 600 EDINA, MN 55439 |
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| CFO |
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Signatures
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/s/ Jill Barnett, attorney-in-fact | | 7/2/2020 |
**Signature of Reporting Person | Date |
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