Jesus Arregui Form 4 Snap-on / Jesus Arregui 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^*

Arregui Jesus

(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)
Sr VP & President - Commercial

3. Date of Earliest Transaction (Month/Day/Year)
02/11/2021

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
Common Stock								816	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
Stock Appreciation Rights	$189.89	02/11/2021		A		9,672		02/11/2022(1)	02/11/2031	Common Stock	9,672	$0(2)	9,672	D
Performance Units	(3)	02/11/2021		A		3,016		(4)	(4)	Common Stock	3,016	$0	3,016	D
Restricted Stock Units	(3)	02/11/2021		A		1,508		02/11/2024(5)	02/11/2024(5)	Common Stock	1,508	$0	1,508	D
Performance Units	(3)	02/11/2021		D			659	(6)	(6)	Common Stock	659	(6)	0	D
Restricted Stock Units	(3)	02/11/2021		D			1,670	(7)	(7)	Common Stock	1,670	(7)	0	D
Performance Units	(3)							(8)	(8)	Common Stock	1,440		1,440	D
Performance Units	(3)							(9)	(9)	Common Stock	1,671		1,671	D
Stock Appreciation Rights	$79.04							(10)	02/13/2023	Common Stock	1,600		1,600	D
Stock Appreciation Rights	$109.43							(10)	02/13/2024	Common Stock	3,466		3,466	D
Stock Appreciation Rights	$144.69							(10)	02/12/2025	Common Stock	5,500		5,500	D
Stock Appreciation Rights	$138.03							(10)	02/11/2026	Common Stock	6,500		6,500	D
Stock Appreciation Rights	$168.7							(10)	02/09/2027	Common Stock	7,500		7,500	D
Stock Appreciation Rights	$161.18							02/15/2019(1)	02/15/2028	Common Stock	5,674		5,674	D
Stock Appreciation Rights	$155.92							02/14/2020(1)	02/14/2029	Common Stock	12,000		12,000	D
Stock Appreciation Rights	$155.34							02/13/2021(1)	02/13/2030	Common Stock	13,500		13,500	D

Explanation of Responses:

1. Original stock appreciation rights grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.

2. This transaction was a stock appreciation rights grant. Accordingly, the reporting person did not pay a price to obtain the stock appreciation rights grant.

3. 1 for 1.

4. If the Company achieves certain goals over the 2021-2023 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.

5. The restricted stock units vest three years from the grant date on the date listed above, assuming continued employment.

6. Based on Company performance during the 2018-2020 period, the performance units did not vest and, as a result, were forfeited.

7. Based on the Company's performance during fiscal 2020, the restricted stock units granted in fiscal 2020 were not earned and, as a result, the awards were forfeited.

8. If the Company achieves certain goals over the 2019-2021 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 2020-2022 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. Stock appreciation rights grant fully vested.

	/s/ Ryan S. Lovitz under Power of Attorney for Jesus Arregui	02/15/2021
	** 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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