0001574276-19-000002.txt : 20190927 0001574276-19-000002.hdr.sgml : 20190927 20190927201109 ACCESSION NUMBER: 0001574276-19-000002 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20181203 FILED AS OF DATE: 20190927 DATE AS OF CHANGE: 20190927 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Davidson Charles CENTRAL INDEX KEY: 0001680777 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-38964 FILM NUMBER: 191123568 MAIL ADDRESS: STREET 1: C/O SCHMITT INDUSTRIES, INC. STREET 2: 2765 N.W. NICOLAI STREET CITY: PORTLAND STATE: OR ZIP: 97210 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: SCHMITT INDUSTRIES INC CENTRAL INDEX KEY: 0000922612 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823] IRS NUMBER: 931151989 STATE OF INCORPORATION: OR FISCAL YEAR END: 0531 BUSINESS ADDRESS: STREET 1: 2765 NW NICOLAI ST CITY: PORTLAND STATE: OR ZIP: 97210 BUSINESS PHONE: 5032277908 MAIL ADDRESS: STREET 1: 2765 NW NICOLAI ST CITY: PORTLAND STATE: OR ZIP: 97210 4 1 primary_doc.xml PRIMARY DOCUMENT X0306 4 2018-12-03 0 0000922612 SCHMITT INDUSTRIES INC SMIT 0001680777 Davidson Charles C/O SCHMITT INDUSTRIES, INC. 2765 N.W. NICOLAI STREET PORTLAND OR 97210 1 0 0 0 Common Stock 2019-09-27 4 M 0 5000 0 A 6000 D Restricted Stock Units 2018-12-03 4 A 0 26000 0 A Common Stock 26000 26000 D Restricted Stock Units 2019-09-27 4 M 0 5000 0 D 2018-12-24 2028-12-24 Common Stock 5000 21000 D Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Company's common stock. One tranche of 5,000 RSUs vest if the 15-day trading average closing price of the Company's common stock is greater than or equal to the target price of $2.70 and seven tranches of 3,000 RSUs vest if the 15-day trading average closing prices of the Company's common stock is greater than or equal to the target price of $2.90, $3.10, $3.30, $3.50, $3.70, $3.90 and $4.10. RSUs vested on December 24, 2018, pursuant to the terms of the Strategic Advisory Committee charter. Charles Davidson 2019-09-27