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*
Boyd Iain

(Last) (First) (Middle)
SNAP-ON INCORPORATED
2801 80TH STREET

(Street)
KENOSHA WI 53143

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SNAP-ON Inc [ SNA ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP - Operations Development
3. Date of Earliest Transaction (Month/Day/Year)
02/19/2016
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 02/19/2016 S 1,455 D $145 (1) 9,946.4271 D
Common Stock 02/19/2016 S 1,700 D $145.7417 (2) 8,246.4271 D
Common Stock 563.4348 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) $58.94 02/09/2014 02/09/2021 Common Stock 10,000 10,000 D
Stock Option (Right to Buy) $60 02/08/2015 02/08/2022 Common Stock 12,000 12,000 D
Stock Option (Right to Buy) $79.04 02/13/2016 02/13/2023 Common Stock 13,000 13,000 D
Stock Option (Right to Buy) $109.43 02/13/2015 (3) 02/13/2024 Common Stock 13,500 13,500 D
Stock Option (Right to Buy) $144.69 02/12/2016 (3) 02/12/2025 Common Stock 13,500 13,500 D
Stock Option (Right to Buy) $138.03 02/11/2017 02/11/2026 Common Stock 13,500 13,500 D
Restricted Stock Units (4) (5) (5) Common Stock 2,211 2,211 D
Restricted Stock Units (4) (6) (6) Common Stock 1,794 1,794 D
Restricted Stock Units (4) (7) (7) Common Stock 1,051 1,051 D
Performance Units (4) (8) (8) Common Stock 1,660 1,660 D
Performance Units (4) (9) (9) Common Stock 1,304 1,304 D
Performance Units (4) (10) (10) Common Stock 1,051 1,051 D
Deferred Stock Units (4) (11) (11) Common Stock 317.7647 317.7647 D
Explanation of Responses:
1. This transaction was executed in multiple trades at prices ranging from $144.49 to $145.38. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.
2. This transaction was executed in multiple trades at prices ranging from $145.54 to $145.89. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.
3. Original option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.
4. 1 for 1.
5. The restricted stock units were earned based on Company performance during fiscal 2014. Assuming continued employment through the end of fiscal 2016, the units will then vest in one installment and the shares will be issued shortly thereafter.
6. The restricted stock units were earned based on Company performance during fiscal 2015. Assuming continued employment through the end of fiscal 2017, the units will then vest in one installment and the shares will be issued shortly thereafter.
7. The restricted stock units may be earned based on the achievement of certain Company goals during fiscal 2016. Assuming continued employment through the end of fiscal 2018, any units earned will then vest in one installment and the shares will be issued shortly thereafter. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
8. If the Company achieves certain goals over the 2014-2016 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
9. If the Company achieves certain goals over the 2015-2017 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
10. If the Company achieves certain goals over the 2016-2018 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.
11. Payment will be made in accordance with the reporting person's deferral election, death, disability or termination of employment.
/s/ Ryan S. Lovitz under Power of Attorney for Iain Boyd 02/19/2016
** 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).
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