0001209191-14-071643.txt : 20141126
0001209191-14-071643.hdr.sgml : 20141126
20141126210040
ACCESSION NUMBER: 0001209191-14-071643
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20141124
FILED AS OF DATE: 20141126
DATE AS OF CHANGE: 20141126
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: CROWN CRAFTS INC
CENTRAL INDEX KEY: 0000025895
STANDARD INDUSTRIAL CLASSIFICATION: BROADWOVEN FABRIC MILLS, COTTON [2211]
IRS NUMBER: 580678148
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0328
BUSINESS ADDRESS:
STREET 1: 916 SOUTH BURNSIDE AVENUE
CITY: GONZALES
STATE: LA
ZIP: 70737
BUSINESS PHONE: 225-647-9100
MAIL ADDRESS:
STREET 1: PO BOX 1028
CITY: GONZALES
STATE: LA
ZIP: 70707
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: CHESTNUT E RANDALL
CENTRAL INDEX KEY: 0001238899
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-07604
FILM NUMBER: 141254829
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2014-11-24
0
0000025895
CROWN CRAFTS INC
CRWS
0001238899
CHESTNUT E RANDALL
P.O. BOX 1028
GONZALES
LA
70707-1028
1
1
0
0
President and CEO
Common Stock
2014-11-24
4
D
0
75000
0.00
D
725968
D
Common Stock
2014-11-24
4
A
0
75000
0.00
A
800968
D
Common Stock
2014-11-24
4
F
0
4795
7.24
D
796173
D
The two reported transactions reflect the amendment of an outstanding restricted stock award, resulting in the deemed cancellation of the restricted stock award originally granted to the Reporting Person on June 23, 2010 and the grant of a replacement award for the same number of shares. The prior restricted stock award, made pursuant to the Issuer's 2006 Omnibus Incentive Plan, with the condition to vesting that the trading price of the Issuer's common stock close at or above $6.00 per share for ten (10) days during any thirty (30) consecutive trading day period prior to July 29, 2015 having been met, was amended by the replacement award to provide that 10,000 shares of the common stock subject to such award shall be vested as of November 24, 2014. The vesting date of the award's remaining 65,000 shares remains July 29, 2015.
This transaction represents the withholding of 4,795 shares of common stock to satisfy the tax withholding obligations incurred by the Reporting Person upon the vesting of a portion of the restricted stock award of 75,000 shares of common stock originally awarded to the Reporting Person on June 23, 2010 and amended on November 24, 2014 to accelerate the vesting of 10,000 of such shares from July 29, 2015 to November 24, 2014. The purpose of the amendment is to accelerate the vesting of a portion of the grant into the Issuer's current taxable year in order to preserve the deductibility of such amount to the Issuer for income tax purposes.
/s/ Olivia Elliott on behalf of E. Randall Chestnut
2014-11-26