Ivo Jurek Form 4 Gates Industrial / Ivo Jurek ownership change

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^*

Jurek Ivo

(Last) (First) (Middle)

C/O GATES INDUSTRIAL CORPORATION PLC

1144 FIFTEENTH STREET, SUITE 1400

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Gates Industrial Corp plc [ GTES ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/20/2021

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
Ordinary Shares	01/28/2022		M		37,181(1)	A	$0.00	280,104	D
Ordinary Shares	01/28/2022		F		10,763(2)	D	$15.03	269,341	D

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
Performance-Based Restricted Stock Units (PBRSU)	(3)	01/28/2022		M(1)			37,181(1)	(1)	(1)	Ordinary Shares	37,181	$0.00	55,771	D
Performance-Based Restricted Stock Units (PBRSU)	(3)	01/28/2022		D(4)			55,771(4)	(4)	(4)	Ordinary Shares	55,771	$0.00	0	D
Employee Stock Options (Right to Buy)	$6.56	12/20/2021		G(5)	V		1,017,239	(6)	05/18/2025	Ordinary Shares	1,017,239	$0.00	0	D
Employee Stock Options (Right to Buy)	$6.56	12/20/2021		G(5)	V	1,017,239		(6)	05/18/2025	Ordinary Shares	1,017,239	$0.00	1,017,239	I	By Trust

Explanation of Responses:

1. Represents the number of ordinary shares vested pursuant to the performance-based restricted stock unit ("PBRSU") award granted on February 22, 2019 and reported on the Form 4 filed with the Securities and Exchange Commission on February 26, 2019, following the Compensation Committee's certification on January 28, 2022 of the Company's achievement of 40% of the three year performance measure, which was based 50% on total shareholder return with relative measures and 50% on adjusted return on invested capital.

2. Represents ordinary shares withheld to satisfy certain tax and par value withholdings in connection with the vesting of the PBRSUs.

3. Each PBRSU represents a contingent right to receive one ordinary share.

4. Represents the portion of the PBRSU award granted on February 22, 2019 that did not vest and was forfeited in connection with the certification described above.

5. On December 20, 2021, the reporting person transferred these vested, unexercised stock options to an irrevocable family trust for estate planning purposes. No exercises, purchases or sales of securities are being reported in connection with this transaction.

6. The option vested in five roughly equal annual installments beginning on May 18, 2016.

	/s/ Hillary Barrett-Osborne	02/01/2022
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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