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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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 control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction 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 (Month/Day/Year) |
7. Title and Amount of Underlying Securities (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) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Common Stock Option | $ 13.06 | 06/18/2012 | 06/18/2019 | Common Stock | 5,500 | 5,500 | D | ||||||||
Common Stock Option | $ 12.65 | 06/27/2013 | 06/27/2013 | A | 5,500 | 06/27/2013 | 06/27/2020 | Common Stock | 5,500 | $ 12.65 | 11,000 | D | |||
Restricted Stock Unit | (1) | 06/27/2013 | A | 2,500 | 06/27/2016 | 06/27/2016 | Common Stock | 2,500 | $ 0 | 13,500 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Galvin Robert 78 GOLF LANE RIDGEFIELD, CT 06877 |
X |
Jason Boling under POA for Robert C. Galvin | 07/01/2013 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(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). |
(1) | Each restricted stock unit represents a contingent right to receive one share of common stock of Cherokee Inc. |
Remarks: On June 27, 2013, the Compensation Committee (the "Committee") of the Board of Directors (the "Board") of Cherokee Inc. ("Cherokee") granted Mr. Galvin restricted stock units for 2,500 shares as noted above. There is no purchase price required by the recipient in connection with these units. Such restricted stock units will vest in full on the three year anniversary of the grant date. Such vesting will accelerate upon the earlier of (i) a change in control of Cherokee, (ii) the death of the recipient or (iii) the recipient's failure to be re-elected to the Board of Directors in any election in which the recipient stands for re-election. In addition, on June 27, 2013, the Committee granted Mr. Galvin, 5,500 stock options as noted above. Such options are fully vested as of the grant date. |