SEC Form 4
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*
Friebe Joseph M

(Last) (First) (Middle)
C/O CABELA'S INCORPORATED
ONE CABELA DRIVE

(Street)
SIDNEY, NE 69160

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CABELAS INC [ CAB ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Executive Vice President
3. Date of Earliest Transaction (Month/Day/Year)
03/02/2012
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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 03/02/2012 M 10,000 A $35.17 48,821(1) D
Common Stock 03/02/2012 F 3,397(2) D $35.17 45,424 D
Common Stock 03/02/2012 M 1,667 A $35.17 47,091 D
Common Stock 03/02/2012 F 557(2) D $35.17 46,534 D
Common Stock 03/02/2012 M 1,000 A $35.17 47,534 D
Common Stock 03/02/2012 F 334(2) D $35.17 47,200 D
Common Stock 03/02/2012 M 2,334 A $35.17 49,534 D
Common Stock 03/02/2012 F 780(2) D $35.17 48,754 D
Common Stock 03/02/2012 A 1,667 A $35.17 50,421 D
Common Stock 03/02/2012 F 557(2) D $35.17 49,864 D
Common Stock 1,970(3) I by 401(k) Plan
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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
Stock Option (right to buy) $35.17 03/02/2012 A 12,000 (4) 03/02/2020 Common Stock 12,000 $0 12,000 D
Restricted Stock Units (5) 03/02/2012 A 3,000 (6) (6) Common Stock 3,000 $0 3,000 D
Restricted Stock Units (5) 03/02/2012 M 10,000 (7) (7) Common Stock 10,000 $0 0 D
Restricted Stock Units (5) 03/02/2012 M 1,667 (8) (8) Common Stock 1,667 $0 1,666 D
Restricted Stock Units (5) 03/02/2012 M 1,000 (9) (9) Common Stock 1,000 $0 2,000 D
Restricted Stock Units (5) 03/02/2012 M 2,334 (10) (10) Common Stock 2,334 $0 2,332 D
Restricted Stock Units (5) 03/02/2012 A 3,333 (11) (11) Common Stock 3,333 $0 3,333 D
Explanation of Responses:
1. Includes 88 shares of common stock acquired under the Issuer's Employee Stock Purchase Plan.
2. These shares were retained by the Company to discharge withholding tax obligations of the Reporting Person and do not constitute an actual sale or other open-market transaction.
3. The number of shares allocated to the Reporting Person under the Issuer's 401(k) Plan is equal to his March 2, 2012, account balance in the Issuer's stock fund divided by the closing price of the Issuer's common stock on March 2, 2012. The Issuer's stock fund in its 401(k) Plan is unitized for those participants holding unrestricted stock and as such does not itself allocate a specific number of shares to participants.
4. The option vests in four equal annual installments beginning on March 2, 2013.
5. Each restricted stock unit represents the contingent right to receive one share of common stock.
6. Restricted stock units granted on March 2, 2012, that vest in four equal annual installments beginning on March 2, 2013.
7. Restricted stock units granted on March 2, 2009, that vest in three equal annual installments beginning on March 2, 2010.
8. Restricted stock units granted on March 2, 2010, that vest in three equal annual installments beginning on March 2, 2011.
9. Restricted stock units granted on March 2, 2011, that vest in three equal annual installments beginning on March 2, 2012.
10. Performance-based restricted stock units ("PBRSUs") granted on March 2, 2010, that vest in three equal annual installments beginning on March 2, 2011, subject to the satisfaction of a performance criteria for the fiscal year ended January 1, 2011. The performance criteria for fiscal 2010 was certified as being met on March 2, 2011, resulting in one-third of the PBRSUs vesting and two-thirds of the PBRSUs becoming a derivative security subject to time vesting.
11. PBRSUs granted on March 2, 2011, that vest in three equal annual installments beginning on March 2, 2012, subject to the satisfaction of a performance criteria for the fiscal year ended December 31, 2011. The performance criteria for fiscal 2011 was certified as being met on March 2, 2012, resulting in one-third of the PBRSUs vesting and two-thirds of the PBRSUs becoming a derivative security subject to time vesting.
Remarks:
Brent LaSure, Attorney-in-Fact 03/06/2012
** 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).
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