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DEF 14A
BRISTOW GROUP INC filed this Form DEF 14A on 06/21/2018
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(1) 
Options vest and become exercisable in three equal annual installments after the date of grant.
(2) 
Performance cash awards vest in full three years from the date of grant. This amount represents the total of all outstanding unvested performance cash awards from fiscal year 2017 and fiscal year 2018 assuming a payout at the “target” level. Following March 31, 2018, performance cash awards from fiscal year 2016 for all NEOs, except for Messrs. Akiri and Earle (who were not employed by the Company at the time that the award vested), vested at 100% of the target level in the following amounts based on the Company’s TSR over the three year period ended March 31, 2018: Mr. Baliff - $1,233,333; Mr. Miller - $400,000; Mr. Phillips - $67,856; Mr. Corbett - $68,723; Mr. Allman - $110,000.
(3) 
Pursuant to the terms of the Akiri Separation Agreement, Mr. Akiri’s performance cash awards granted in June 2015 and June 2016 became fully vested and earned at the target performance level, and were paid to Mr. Akiri on August 8, 2017. The expiration date of each of his vested options accelerated to August 8, 2018 pursuant to the terms of the Akiri Separation Agreement. Mr. Akiri’s unvested stock options and unvested restricted stock unit grants awarded in June 2015 and June 2016 fully vested on August 8, 2017.
(4) 
Pursuant to the terms of the Earle Separation Agreement, Mr. Earle’s performance cash awards granted in June 2015 and June 2016 became fully vested and earned at the target performance level, and were paid to Mr. Earle on July 25, 2017. The expiration date of each of his vested options accelerated to August 8, 2018 pursuant to the terms of the Earle Separation Agreement. Mr. Earle’s unvested stock options and unvested restricted stock unit grants awarded in June 2015 and June 2016 fully vested on July 25, 2017.
Option Exercises and Stock Vested
The following table sets forth information concerning exercises of stock options and vesting of restricted stock units of each of our NEOs during fiscal year 2018:
Option Exercises and Stock Vested – Fiscal Year 2018

Name
Option Awards
 
Stock Awards
Number of Shares
Acquired on Exercise (#)
Value Realized
on Exercise ($)
 
Number of Shares
Acquired on Vesting (#)
Value Realized
on Vesting ($)
Mr. Baliff


 
14,550

99,959

Mr. Miller


 
1,990

13,671

Mr. Corbett


 


Mr. Phillips


 
1,036

7,117

Mr. Allman


 
1,626

11,171

Mr. Akiri (1)


 
34,062

234,687

Mr. Earle (2)


 
30,904

212,843


(1) 
Pursuant to the terms of the Akiri Separation Agreement, all of Mr. Akiri’s unvested stock options and unvested restricted stock unit grants awarded in June 2015 and June 2016 fully vested on August 8, 2017. The expiration date of his vested options will not expire until August 8, 2018 pursuant to the terms of the Akiri Separation Agreement.
(2) 
Pursuant to the terms of the Earle Separation Agreement, all of Mr. Earle’s unvested stock options and unvested restricted stock unit grants awarded in June 2015 and June 2016 fully vested on July 25, 2017. The expiration date of his vested options will not expire until August 8, 2018 pursuant to the terms of the Earle Separation Agreement.

 
BRISTOW GROUP INC.2018 Proxy Statement – 50


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