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Filing Details

Accession Number:: 0001127602-17-005578
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-02-13 18:12:20
Reporting Period:: 2017-02-09

Filing Date:: 2017-02-13
Accepted Time:: 2017-02-13 18:12:20
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
91440	Snap-On Inc	SNA	Cutlery, Handtools & General Hardware (3420)	390622040

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1433027	M Irwin Shur	Snap-On Incorporated 2801 80Th Street Kenosha WI 53143	Vp, Gen Counsel & Secretary	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2017-02-09	1,719	$0.00	9,442	No	4	M	Direct
Common Stock	Disposition	2017-02-09	535	$168.70	8,907	No	4	F	Direct
Common Stock	Disposition	2017-02-13	250	$171.85	8,657	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	F	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Performance Units	Acquisiton	2017-02-09	108	$0.00	108	$0.00
Common Stock	Performance Units	Disposition	2017-02-09	1,719	$0.00	1,719	$0.00
Common Stock	Restricted Stock Units	Acquisiton	2017-02-09	170	$0.00	170	$0.00
Common Stock	Stock Option (Right to Buy)	Acquisiton	2017-02-09	14,000	$0.00	14,000	$168.70
Common Stock	Performance Units	Acquisiton	2017-02-09	1,001	$0.00	1,001	$0.00
Common Stock	Restricted Stock Units	Acquisiton	2017-02-09	1,001	$0.00	1,001	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
1,719			No	4	A	Direct
0			No	4	M	Direct
1,221			No	4	A	Direct
14,000	2018-02-09	2027-02-09	No	4	A	Direct
1,001			No	4	A	Direct
1,001			No	4	A	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Option (Right to Buy)	$60.00	2015-02-08	2022-02-08	10,500	10,500	Direct
Common Stock	Stock Option (Right to Buy)	$79.04	2016-02-13	2023-02-13	14,000	14,000	Direct
Common Stock	Stock Option (Right to Buy)	$109.43	2015-02-13	2024-02-13	14,000	14,000	Direct
Common Stock	Stock Option (Right to Buy)	$144.69	2016-02-12	2025-02-12	14,000	14,000	Direct
Common Stock	Stock Option (Right to Buy)	$138.03	2017-02-11	2026-02-11	14,000	14,000	Direct
Common Stock	Restricted Stock Units	$0.00			1,768	1,768	Direct
Common Stock	Performance Units	$0.00			1,285	1,285	Direct
Common Stock	Performance Units	$0.00			1,051	1,051	Direct
Common Stock	Deferred Stock Units	$0.00			2,061	2,061	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2022-02-08	10,500	10,500	Direct
2023-02-13	14,000	14,000	Direct
2024-02-13	14,000	14,000	Direct
2025-02-12	14,000	14,000	Direct
2026-02-11	14,000	14,000	Direct
	1,768	1,768	Direct
	1,285	1,285	Direct
	1,051	1,051	Direct
	2,061	2,061	Direct

Footnotes

Based on Company performance during the 2014-2016 period, approximately 106.7% of the performance units vested (as previously disclosed, the reporting person had the opportunity to earn up to 200% of the number originally reported, subject to plan limits).
Shares were withheld to cover tax withholding upon the vesting of performance units.
This transaction was executed in multiple trades at prices ranging from $171.80 to $171.859. 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.
1 for 1.
Based on Company performance during fiscal 2016, approximately 116.2% of the restricted stock units originally granted were earned (as previously disclosed, the reporting person had the opportunity to earn up to 200% of the number of units originally reported, subject to plan limits). Assuming continued employment through the end of fiscal 2018, the units will then vest in one installment and the shares will be issued shortly thereafter.
Original option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.
This transaction was an option grant. Accordingly, the reporting person did not pay a price to obtain the option.
If the Company achieves certain goals over the 2017-2019 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.
The restricted stock units may be earned based on the achievement of certain Company goals during fiscal 2017. Assuming continued employment through the end of fiscal 2019, 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 number is 200% of the number reported, subject to plan limits.
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.
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.
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.
Payment will be made in accordance with the reporting person's deferral election, death, disability or termination of employment.