0001574276-19-000003.txt : 20190927 0001574276-19-000003.hdr.sgml : 20190927 20190927203138 ACCESSION NUMBER: 0001574276-19-000003 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: HINES ANDREWS P CENTRAL INDEX KEY: 0001280036 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-38964 FILM NUMBER: 191123587 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 0001280036 HINES ANDREWS P C/O SCHMITT INDUSTRIES, INC. 2765 NW NICOLAI ST. PORTLAND OR 97210 1 0 0 0 Common Stock 2019-09-27 4 M 0 5000 0 A 5000 D Common Stock 2019-09-27 4 A 0 2917 0 A 7917 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 price 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. RSUs granted in lieu of other board compensation for the July 30, 2019 Board meetings and vested immediately. Andrew Phillip Hines 2019-09-27