David D. Glenn Form 3 LYDALL / David D. Glenn ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Glenn David D.

(Last) (First) (Middle)

C/O LYDALL, INC.

ONE COLONIAL ROAD

(Street)

MANCHESTER CT 06042

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/10/2020

3. Issuer Name and Ticker or Trading Symbol
LYDALL INC /DE/ [ LDL ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Pres, Thermal Acoustical Solut

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	2,504	D
Common Stock	8,210(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Incentive Stock Option	12/05/2015(2)	12/04/2024	Common Stock	1,575(3)	27.96	D
Non-Qualified Stock Option	12/04/2016(2)	12/03/2025	Common Stock	2,500(4)	36.74	D
Non-Qualified Stock Option	12/08/2018(2)	12/07/2027	Common Stock	4,890	51.85	D
Non-Qualified Stock Option	12/07/2019(2)	12/06/2028	Common Stock	6,905	20.16	D
Non-Qualified Stock Option	07/25/2020(2)	07/24/2029	Coomon Stock	21,390	20.05	D
Non-Qualified Stock Option	02/13/2021(2)	02/12/2030	Common Stock	11,025	21.7	D

Explanation of Responses:

1. Represents awards of Performance Shares granted under the Lydall 2012 Stock Incentive Plan, which awards are subject to a substantial risk of forfeiture and vests, if at all, to the extent determined upon certification by the Compensation Committee of the Board of Directors of the Company that the Company has achieved certain specified financial performance criteria during the following three-year periods: (a) for 1,690 shares, from January 1, 2018 and ending as of December 31, 2020; (b) for 2,485 shares, from January 1, 2019 and ending as of December 31, 2021; and (c) for 4,035 shares, from January 1, 2020 and ending as of December 31, 2022.

2. Stock options granted under the Lydall, Inc. 2012 Stock Incentive Plan. Options become exercisable at the rate of 25% per year, beginning one year from initial grant date.

3. The amount of shares reflects the remaining number of options exercisable from the initial grant of 6,300 shares subject to the stock option grant.

4. The amount of shares reflects the remaining number of options exercisable from the initial grant of 5,000 shares subject to the stock option grant.

Remarks:

	Chad A. McDaniel, attorney-in-fact for David D. Glenn	12/21/2020
	** 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 5 (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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