FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES 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*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 02/13/2024 |
3. Issuer Name and Ticker or Trading Symbol
Element Solutions Inc [ ESI ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock, par value $0.01 per share | 45,053 | D |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Performance Stock Units | (1) | (1) | Common Stock | 20,861 | (1) | D | |
Restricted Stock Units | (2) | (2) | Common Stock | 10,431 | (2) | D | |
Performance Stock Units | (3) | (3) | Common Stock | 10,060 | (3) | D | |
Restricted Stock Units | (4) | (4) | Common Stock | 3,354 | (4) | D | |
Performance Stock Units | (5) | (5) | Common Stock | 5,732 | (5) | D | |
Restricted Stock Units | (6) | (6) | Common Stock | 955 | (6) | D | |
Restricted Stock Units | (7) | (7) | Common Stock | 1,261 | (7) | D |
Explanation of Responses: |
1. Each performance-based restricted units (PRSU) represents a contingent right to receive up to 2 shares, subject to the achievement of certain adjusted EBITDA compound annual growth and cash return on investment (CRI) goals for the performance period ending December 31, 2026. The number of shares will range from zero to 41,722 shares. |
2. These restricted stock units (RSUs) will vest annually on February 13th in 1/3 increments starting on February 13, 2025. |
3. Each PRSU represents a contingent right to receive up to 2 shares, subject to the achievement of certain adjusted EBITDA compound annual growth and CRI goals for the performance period ending December 31, 2025. The number of shares will range from zero to 20,120 shares. |
4. These RSUs vest annually on February 13th in 1/3 increments starting on February 13, 2024. |
5. Each PRSU represents a contingent right to receive up to 2 shares, subject to the achievement of certain adjusted EBITDA compound annual growth and CRI goals for the performance period ending December 31, 2024. The number of shares will range from zero to 11,464 shares. |
6. These RSUs vest annually on February 15th in 1/3 increments since February 15, 2023. |
7. These RSUs vest annually on February 17th in 1/3 increments since February 17, 2022. |
Remarks: |
/s/ John E. Capps as Attorney-in-Fact for Richard L. Fricke | 02/15/2024 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |