FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
SCHOOL SPECIALTY INC [ SCHS ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 04/16/2012 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 04/16/2012 | A | 10,000 | A | (1) | 10,000 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Non-qualified stock option (right to buy) | $3.16 | 04/16/2012 | A | 15,000 | (2) | 04/16/2022 | Common Stock | 15,000 | $3.16 | 15,000 | D | ||||
Non-qualified stock option (right to buy) | $3.16 | 04/16/2012 | A | 25,000 | (3) | 04/16/2022 | Common Stock | 25,000 | $3.16 | 25,000 | D |
Explanation of Responses: |
1. Grant of restricted stock under the School Specialty, Inc., 2002 Equity Incentive Plan (the "2002 Plan"). One-third of the shares will vest on each of the first three anniversaries of the grant date. |
2. Option granted as an inducement to Reporting Person's acceptance of the Company's offer of employment. One-fourth of the underlying shares will become exercisable on each of the first, second, third and fourth anniversaries of the grant date. |
3. Option granted as an inducement to Reporting Person's acceptance of the Company's offer of employment. Following purchase of a number of shares of the Company's common stock with an aggregate purchase price of at least $40,000, the option will vest with respect to one-fourth of the shares subject to the option on the date the average of the average daily high and low sales prices of a share of the Company's common stock during any 30 consecutive trading day period equals or exceeds $5.00 per share, and another one-fourth of which will vest on each of the dates the average trading price equals or exceeds $10.00, per share, $15.00 per share and $20.00 per share, subject to their continued employment. Furthermore, these options may not be exercised before the first anniversary of the date of grant and may not be exercised with respect to more than one-third of the shares subject to the option on each of the first three anniversaries of the date of grant. |
Kathryn L. Pepper-Miller | 04/18/2012 | |
Kathryn L. Pepper-Miller | 04/18/2012 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* 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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |