UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. __)*


Terex Corporation
(Name of Issuer)
 
Common Stock, par value $0.01 per share
(Title of Class of Securities)
 
880779103
(CUSIP Number)
 
 Richard T. McGuire III

Marcato Capital Management LP

Four Embarcadero Center, Suite 2100

San Francisco, CA 94111

Telephone Number (415) 796-6350

(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
 
July 27, 2016
(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. ☐
 
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 13d-7 for other parties to whom copies are to be sent.
 
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other  provisions of the Act  (however, see the Notes).
 
 

CUSIP No. 880779103
 
SCHEDULE 13D
Page 2 of 10

 
1
NAME OF REPORTING PERSON OR
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Marcato Capital Management LP
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
(a)  o
(b)  x
3
SEC USE ONLY
 
 
 
4
SOURCE OF FUNDS
 
AF
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
 
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
7
SOLE VOTING POWER
 
0
8
SHARED VOTING POWER
 
5,517,382
9
SOLE DISPOSITIVE POWER
 
0
10
SHARED DISPOSITIVE POWER
 
5,517,382
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
5,517,382
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
5.1%
 
14
TYPE OF REPORTING PERSON
 
IA
 

 

CUSIP No. 880779103
 
SCHEDULE 13D
Page 3 of 10

 
1
NAME OF REPORTING PERSON OR
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Richard T. McGuire III
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
(a)  o
(b)  x
3
SEC USE ONLY
 
 
 
4
SOURCE OF FUNDS
 
AF
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
 
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States of America
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
7
SOLE VOTING POWER
 
0
8
SHARED VOTING POWER
 
5,517,382
9
SOLE DISPOSITIVE POWER
 
0
10
SHARED DISPOSITIVE POWER
 
5,517,382
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
5,517,382
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
5.1%
 
14
TYPE OF REPORTING PERSON
 
IN
 
 

CUSIP No. 880779103
 
SCHEDULE 13D
Page 4 of 10

 
1
NAME OF REPORTING PERSON OR
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Marcato, L.P.
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
(a)  o
(b)  x
3
SEC USE ONLY
 
 
 
4
SOURCE OF FUNDS
 
WC
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
 
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
7
SOLE VOTING POWER
 
0
8
SHARED VOTING POWER
 
1,485,279
9
SOLE DISPOSITIVE POWER
 
0
10
SHARED DISPOSITIVE POWER
 
1,485,279
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,485,279
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
1.4%
 
14
TYPE OF REPORTING PERSON
 
PN
 

 

CUSIP No. 880779103
 
SCHEDULE 13D
Page 5 of 10

 
1
NAME OF REPORTING PERSON OR
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Marcato II, L.P.
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
(a)  o
(b)  x
3
SEC USE ONLY
 
 
 
4
SOURCE OF FUNDS
 
WC
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
 
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
7
SOLE VOTING POWER
 
0
8
SHARED VOTING POWER
 
136,280
9
SOLE DISPOSITIVE POWER
 
0
10
SHARED DISPOSITIVE POWER
 
136,280
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
136,280
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
0.1%
 
14
TYPE OF REPORTING PERSON
 
PN
 

 

CUSIP No. 880779103
 
SCHEDULE 13D
Page 6 of 10

 
1
NAME OF REPORTING PERSON OR
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Marcato International Master Fund, Ltd.
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 
 
(a)  o
(b)  x
3
SEC USE ONLY
 
 
 
4
SOURCE OF FUNDS
 
WC
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
 
 
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Cayman Islands
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH
7
SOLE VOTING POWER
 
0
8
SHARED VOTING POWER
 
3,895,823
9
SOLE DISPOSITIVE POWER
 
0
10
SHARED DISPOSITIVE POWER
 
3,895,823
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
3,895,823
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
3.6%
 
14
TYPE OF REPORTING PERSON
 
OO
 

 

CUSIP No. 880779103
 
SCHEDULE 13D
Page 7 of 10
 
 
Item 1. 
Security and Issuer.
 
The name of the issuer is Terex Corporation, a Delaware corporation (the “Issuer”). The address of the Issuer’s principal executive offices is 200 Nyala Farm Road, Westport, CT 06880, United States of America. This Schedule 13D relates to the Issuer’s Common Stock (the “Shares”).

Item 2. 
Identity and Background.
 
(a), (f)     This Schedule 13D is being filed by Marcato Capital Management LP, a Delaware limited partnership (“Marcato”), Richard T. McGuire III, a United States citizen, Marcato, L.P., a Delaware limited partnership, Marcato II, L.P., a Delaware limited partnership, and Marcato International Master Fund, Ltd., a Cayman Islands exempted company. Mr. McGuire is the managing partner of Marcato, the investment manager of Marcato, L.P., Marcato II, L.P. and Marcato International Master Fund, Ltd. Marcato, Mr. McGuire, Marcato, L.P., Marcato II, L.P. and Marcato International Master Fund, Ltd. are each a “Reporting Person” and are collectively referred to herein as the “Reporting Persons”.
 
(b)           The principal business address for each of the Reporting Persons is c/o Marcato Capital Management LP, Four Embarcadero Center, Suite 2100, San Francisco, CA 94111.
 
(c)            Mr. McGuire is the managing partner of Marcato, an entity that serves as investment adviser of Marcato, L.P., Marcato II, L.P. and Marcato International Master Fund, Ltd.

(d)            Mr. McGuire has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

(e)            None of the Reporting Persons have, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
 
Item 3. 
Source and Amount of Funds or Other Consideration.

The responses to Items 4, 5 and 6 of this Schedule 13D are hereby incorporated by reference.
 
The net investment costs (including commissions, if any) of the Shares directly owned by the private investment funds advised by Marcato is approximately $51,979,707, including the net cost of Shares.  The amounts paid were funded by working capital.
 
 

CUSIP No. 880779103
 
SCHEDULE 13D
Page 8 of 10
 
 
Item 4.
Purpose of Transaction.

The responses to Items 3, 5 and 6 of this Schedule 13D are incorporated herein by reference.

The Reporting Persons acquired the Shares over which they exercise beneficial ownership in the belief that the Shares are undervalued and are an attractive investment. The Reporting Persons have had and anticipate having further discussions with directors and officers of the Issuer, other shareholders or third parties in connection with the Reporting Persons’ investment in the Issuer. Further discussions may include one or more members of the Issuer’s management, the board, other stockholders of the Issuer and other persons to discuss the Issuer’s business, strategies, the composition of the board of directors of the Issuer, and other matters related to the Issuer. These discussions may review options for enhancing shareholder value through various strategic alternatives or operational or management initiatives including, but not limited to, improving returns on invested capital, improving margins, improving capacity utilization, determining appropriate capital structure and capital allocation methodology, and aligning incentive compensation with disciplined capital allocation practices.

The Reporting Persons intend to review their respective investment in the Issuer on a continuing basis and may from time to time and at any time in the future depending on various factors, including, without limitation, the outcome of any discussions referenced above, the Issuer’s financial position and strategic direction, actions taken by the board, price levels of the Shares, other investment opportunities available to the Reporting Persons, conditions in the securities market and general economic and industry conditions, take such actions with respect to the investment in the Issuer as they deem appropriate. These actions may include: (i) acquiring additional Shares and/or other equity, debt, notes, other securities, or derivative or other instruments that are based upon or relate to the value of the Shares or the Issuer (collectively, “Securities”) of the Issuer in the open market or otherwise; (ii) disposing of any or all of their Securities in the open market or otherwise; (iii) engaging in any hedging or similar transactions with respect to the Securities; or (iv) proposing or considering one or more of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D.
 
Item 5. 
Interest in Securities of the Issuer.

As of the date hereof, (i) Marcato and Mr. McGuire may be deemed to be the beneficial owners of 5,517,382  Shares (the “Marcato Shares”), constituting approximately 5.1% of the Shares, (ii) Marcato, L.P. may be deemed to be the beneficial owner of 1,485,279  Shares, constituting approximately 1.4% of the Shares, (iii) Marcato II, L.P. may be deemed to be the beneficial owner of 136,280  Shares, constituting approximately 0.1% of the Shares and (iii) Marcato International Master Fund, Ltd. may be deemed to be the beneficial owner of 3,895,823  Shares, constituting approximately 3.6% of the Shares, each based upon 109,200,000 Shares outstanding as of April 25, 2016, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended March 31, 2016. 
 
Marcato, L.P. may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) 1,485,279 Shares.  Marcato II, L.P. may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) 136,280 Shares.  Marcato International Master Fund, Ltd. may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) 3,895,823 Shares.  Marcato, as the investment adviser of Marcato, L.P., Marcato II, L.P. and Marcato International Master Fund, Ltd., may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) the Marcato Shares.  By virtue of Mr. McGuire’s position as the managing partner of Marcato, Mr. McGuire may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) the Marcato Shares and, therefore, Mr. McGuire may be deemed to be the beneficial owner of the Marcato Shares. The number of Shares set forth above includes options, which give the Reporting Persons the right to acquire beneficial ownership of Shares. 
 
The transactions by the Reporting Persons in the securities of the Issuer during the past sixty days are set forth in Exhibit B. 
 
The limited partners of (or investors in) each of Marcato, L.P., Marcato II, L.P., and Marcato International Master Fund, Ltd., or their respective subsidiaries or affiliated entities, for which Marcato or its affiliates acts as general partner and/or investment manager have the right to participate in the receipt of dividends from, or proceeds from the sale of, the Shares held for the accounts of their respective funds in accordance with their respective limited partnership interests (or investment percentages) in their respective funds.
 

 
CUSIP No. 880779103
 
SCHEDULE 13D
Page 9 of 10
 
Item 6. 
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
 
The responses to Items 3, 4 and 5 of this Schedule 13D are incorporated herein by reference.

The Reporting Persons purchased American-style call options referencing an aggregate of 4,429,722 Shares, each with a strike price of $14, which are exercisable through December 21, 2017. The Reporting Persons sold European-style put options referencing an aggregate of 4,429,722 Shares, each with a strike price of $14, which are exercisable on December 21, 2017.

Shares subject to call options exercisable within 60 days are included in the Shares reported as beneficially owned. None of the call options give the Reporting Persons direct or indirect voting, investment or dispositive control over any securities of the Issuer or require the counterparties thereto to acquire, hold, vote or dispose of any securities of the Issuer prior to exercise. None of the put options give the counterparty direct or indirect voting, investment or dispositive control over any securities of the Issuer or require the counterparties to acquire, hold, vote or dispose of any securities of the Issuer prior to exercise.

Except for the arrangements described herein, to the best knowledge of the Reporting Persons, there are no other contracts, arrangements, understandings or relationships (legal or otherwise) among the persons named in Item 2 and between such persons and any other person with respect to any securities of the Issuer, including but not limited to, transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.
 
Item 7. 
Material to be Filed as Exhibits.

Exhibit A:  Joint Filing Agreement
Exhibit B:  Schedule of Transactions in Shares
 
 

 
CUSIP No. 880779103
 
SCHEDULE 13D
Page 10 of 10
 
 
After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated:  July 28, 2016
 
 
Marcato Capital Management LP*
 
 
By: Marcato Holdings LLC, its General Partner
 
       
 
By:
/s/ Richard T. McGuire III
 
   
Richard T. McGuire III, Authorized Person
 
       
 
 
 /s/ Richard T. McGuire III*
 
 
Richard T. McGuire III
 
     
 
 
Marcato, L.P.
 
       
 
By:
MCM General Partner LLC, its General Partner
 
       
 
By:
/s/ Richard T. McGuire III
 
   
Richard T. McGuire III, Authorized Person
 
       
       
 
Marcato II, L.P.
 
       
 
By:
MCM General Partner LLC, its General Partner
 
       
 
By:
/s/ Richard T. McGuire III
 
   
Richard T. McGuire III, Authorized Person
 
       
       
 
Marcato International Master Fund, Ltd.
 
       
 
By:
/s/ Richard T. McGuire III
 
   
Richard T. McGuire III, Director
 
       
 
 
*
This reporting person disclaims beneficial ownership of these reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that any such person is the beneficial owner of these securities for purposes of Section 16 of the U.S. Securities Exchange Act of 1934, as amended, or for any other purpose.
 

Exhibit A
Joint Filing Agreement


The undersigned hereby agree to jointly prepare and file with regulatory authorities this Schedule 13D and any future amendments thereto reporting each of the undersigned’s ownership of securities of the Issuer named herein, and hereby affirm that such Schedule 13D is being filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the other, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

Dated:  July 28, 2016
 
 
Marcato Capital Management LP
 
 
By: Marcato Holdings LLC, its General Partner
 
       
 
By:
/s/ Richard T. McGuire III
 
   
Richard T. McGuire III, Authorized Person
 
       
 
 
 /s/ Richard T. McGuire III
 
 
Richard T. McGuire III
 
     
 
 
Marcato, L.P.
 
       
 
By:
MCM General Partner LLC, its General Partner
 
       
 
By:
/s/ Richard T. McGuire III
 
   
Richard T. McGuire III, Authorized Person
 
       
       
 
Marcato II, L.P.
 
       
 
By:
MCM General Partner LLC, its General Partner
 
       
 
By:
/s/ Richard T. McGuire III
 
   
Richard T. McGuire III, Authorized Person
 
       
       
 
Marcato International Master Fund, Ltd.
 
       
 
By:
/s/ Richard T. McGuire III
 
   
Richard T. McGuire III, Director
 
       
 

Exhibit B
 



TRANSACTIONS
The following table sets forth all transactions with respect to Shares effected in the last sixty days by the Reporting Persons or on behalf of the Reporting Persons in respect of the Shares, inclusive of any transactions effected through 4:00 p.m., New York City time, on July 27, 2016. Except as otherwise noted below, all such transactions were purchases or sales of Shares effected in the open market, and the table includes commissions paid in per share prices.
Marcato II, L.P.
 
Transaction Date
 
Transaction
 
Security
 
Shares/Options Bought (Sold)
 
Unit Cost
06/10/2016
 
Buy
 
Common Stock
 
51
 
20.93
06/13/2016
 
Buy
 
Common Stock
 
4,349
 
21.15
06/14/2016
 
Buy
 
Common Stock
 
6,461
 
20.93
06/15/2016
 
Buy
 
Common Stock
 
8,733
 
21.05
06/16/2016
 
Buy
 
Common Stock
 
4,269
 
20.89
06/17/2016
 
Buy
 
Common Stock
 
1,765
 
21.19
06/20/2016
 
Buy
 
Common Stock
 
4,173
 
21.57
06/21/2016
 
Buy
 
Common Stock
 
6,107
 
21.81
06/22/2016
 
Buy
 
Common Stock
 
4,762
 
22.03
06/23/2016
 
Buy
 
Common Stock
 
5,309
 
22.34
06/24/2016
 
Buy
 
Common Stock
 
28,840
 
20.88
06/24/2016
 
Buy
 
OTC American Call Option (1)
 
74,819
 
6.85
06/24/2016
 
Sell
 
Common Stock
 
(74,819)
 
20.83
06/24/2016
 
Sell
 
OTC European Put Option (2)
 
(74,819)
 
0.01
06/27/2016
 
Buy
 
OTC American Call Option (1)
 
8,153
 
5.71
06/27/2016
 
Sell
 
OTC European Put Option (2)
 
(8,153)
 
0.01
06/28/2016
 
Buy
 
OTC American Call Option (1)
 
6,733
 
5.21
06/28/2016
 
Sell
 
OTC European Put Option (2)
 
(6,733)
 
0.01
06/29/2016
 
Buy
 
OTC American Call Option (1)
 
3,486
 
5.58
06/29/2016
 
Sell
 
OTC European Put Option (2)
 
(3,486)
 
0.01
06/30/2016
 
Buy
 
OTC American Call Option (1)
 
2,631
 
6.15
06/30/2016
 
Sell
 
OTC European Put Option (2)
 
(2,631)
 
0.01
07/01/2016
 
Buy
 
OTC American Call Option (1)
 
3,585
 
6.86
07/01/2016
 
Sell
 
OTC European Put Option (2)
 
(3,585)
 
0.01
07/05/2016
 
Buy
 
Common Stock
 
17,255
 
19.91
07/06/2016
 
Buy
 
Common Stock
 
6,174
 
19.81
07/07/2016
 
Buy
 
Common Stock
 
3,564
 
19.65
07/26/2016
 
Buy
 
Common Stock
 
6,252
 
22.96
07/27/2016
 
Buy
 
Common Stock
 
3,628
 
22.98


 
Marcato International Master Fund, Ltd.

Transaction Date
 
Transaction
 
Security
 
Shares/Options Bought (Sold)
 
Unit Cost
06/10/2016
 
Buy
 
Common Stock
 
1,623
 
20.93
06/13/2016
 
Buy
 
Common Stock
 
136,678
 
21.15
06/14/2016
 
Buy
 
Common Stock
 
203,088
 
20.93
06/15/2016
 
Buy
 
Common Stock
 
274,517
 
21.05
06/16/2016
 
Buy
 
Common Stock
 
134,184
 
20.89
06/17/2016
 
Buy
 
Common Stock
 
55,481
 
21.19
06/20/2016
 
Buy
 
Common Stock
 
131,153
 
21.57
06/21/2016
 
Buy
 
Common Stock
 
191,967
 
21.81
06/22/2016
 
Buy
 
Common Stock
 
149,672
 
22.03
06/23/2016
 
Buy
 
Common Stock
 
166,870
 
22.34
06/24/2016
 
Buy
 
Common Stock
 
906,479
 
20.88
06/24/2016
 
Buy
 
OTC American Call Option (1)
 
2,351,712
 
6.85
06/24/2016
 
Sell
 
Common Stock
 
(2,351,712)
 
20.83
06/24/2016
 
Sell
 
OTC European Put Option (2)
 
(2,351,712)
 
0.01
06/27/2016
 
Buy
 
OTC American Call Option (1)
 
256,270
 
5.71
06/27/2016
 
Sell
 
OTC European Put Option (2)
 
(256,270)
 
0.01
06/28/2016
 
Buy
 
OTC American Call Option (1)
 
211,609
 
5.21
06/28/2016
 
Sell
 
OTC European Put Option (2)
 
(211,609)
 
0.01
06/29/2016
 
Buy
 
OTC American Call Option (1)
 
109,578
 
5.58
06/29/2016
 
Sell
 
OTC European Put Option (2)
 
(109,578)
 
0.01
06/30/2016
 
Buy
 
OTC American Call Option (1)
 
82,696
 
6.15
06/30/2016
 
Sell
 
OTC European Put Option (2)
 
(82,696)
 
0.01
07/01/2016
 
Buy
 
OTC American Call Option (1)
 
112,702
 
6.86
07/01/2016
 
Sell
 
OTC European Put Option (2)
 
(112,702)
 
0.01
07/05/2016
 
Buy
 
Common Stock
 
210,453
 
19.91
07/06/2016
 
Buy
 
Common Stock
 
176,492
 
19.81
07/07/2016
 
Buy
 
Common Stock
 
101,871
 
19.65
07/26/2016
 
Buy
 
Common Stock
 
178,718
 
22.96
07/27/2016
 
Buy
 
Common Stock
 
103,722
 
22.98


Marcato, L.P.
 
Transaction Date
 
Transaction
 
Security
 
Shares/Options Bought (Sold)
 
Unit Cost
06/10/2016
 
Buy
 
Common Stock
 
626
 
20.93
06/13/2016
 
Buy
 
Common Stock
 
52,744
 
21.15
06/14/2016
 
Buy
 
Common Stock
 
78,370
 
20.93
06/15/2016
 
Buy
 
Common Stock
 
105,933
 
21.05
06/16/2016
 
Buy
 
Common Stock
 
51,781
 
20.89
06/17/2016
 
Buy
 
Common Stock
 
21,410
 
21.19
06/20/2016
 
Buy
 
Common Stock
 
50,612
 
21.57
06/21/2016
 
Buy
 
Common Stock
 
74,079
 
21.81
06/22/2016
 
Buy
 
Common Stock
 
57,758
 
22.03
06/23/2016
 
Buy
 
Common Stock
 
64,393
 
22.34
06/24/2016
 
Buy
 
Common Stock
 
349,803
 
20.88
06/24/2016
 
Buy
 
OTC American Call Option (1)
 
907,509
 
6.85
06/24/2016
 
Sell
 
Common Stock
 
(907,509)
 
20.83
06/24/2016
 
Sell
 
OTC European Put Option (2)
 
(907,509)
 
0.01
06/27/2016
 
Buy
 
OTC American Call Option (1)
 
98,893
 
5.71
06/27/2016
 
Sell
 
OTC European Put Option (2)
 
(98,893)
 
0.01
06/28/2016
 
Buy
 
OTC American Call Option (1)
 
81,658
 
5.21
06/28/2016
 
Sell
 
OTC European Put Option (2)
 
(81,658)
 
0.01
06/29/2016
 
Buy
 
OTC American Call Option (1)
 
42,285
 
5.58
06/29/2016
 
Sell
 
OTC European Put Option (2)
 
(42,285)
 
0.01
06/30/2016
 
Buy
 
OTC American Call Option (1)
 
31,913
 
6.15
06/30/2016
 
Sell
 
OTC European Put Option (2)
 
(31,913)
 
0.01
07/01/2016
 
Buy
 
OTC American Call Option (1)
 
43,490
 
6.86
07/01/2016
 
Sell
 
OTC European Put Option (2)
 
(43,490)
 
0.01
07/05/2016
 
Buy
 
Common Stock
 
65,725
 
19.91
07/06/2016
 
Buy
 
Common Stock
 
67,288
 
19.81
07/07/2016
 
Buy
 
Common Stock
 
38,838
 
19.65
07/26/2016
 
Buy
 
Common Stock
 
68,136
 
22.96
07/27/2016
 
Buy
 
Common Stock
 
39,544
 
22.98

 
(1)
Represents Shares underlying American-style call options purchased or sold, as applicable, in the over-the-counter market that are exercisable through December 21, 2017.
(2)
Represents Shares underlying European-style put options purchased or sold, as applicable, in the over-the-counter market that are exercisable on December 21, 2017.