SEC Form 4 · accession 0001051470-16-000206
CROWN CASTLE INC. · CCI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
W Benjamin Moreland
Officer — President & CEO · Director
Period of report
Feb 19, 2016
Accepted (ET)
Feb 23, 2016 · 7:14 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001051470
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock $0.01 Par Value | Feb 19, 2016 | M | 8,398 | $0.00 | A | 649,985 | D | |
| Common Stock $0.01 Par Value | Feb 19, 2016 | M | 8,591 | $0.00 | A | 658,576 | D | |
| Common Stock $0.01 Par ValueF1 | Feb 19, 2016 | F | 40,633 | $86.02 | D | 617,943 | D | |
| Common Stock $0.01 Par ValueF2 | Feb 19, 2016 | D | 33,971 | $0.00 | D | 583,972 | D | |
| Common Stock $0.01 Par ValueF3 | holding | — | — | — | 276 | I | by 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Time RSUsF5,F4,F6 | — | Feb 19, 2016 | M | 8,398 | D | — | — | Common Stock | 8,398 | 8,398 | D |
| Time RSUsF5,F4,F7 | — | Feb 19, 2016 | M | 8,591 | D | — | — | Common Stock | 8,591 | 17,182 | D |
Explanation of responses
- F1Represents shares withheld by the issurer to satisfy the Reporting Person's tax withholding obligation in connection with the vesting (i.e., applicable transfer and forfeiture restriction termination) of certain shares of restricted stock and certain Restricted Stock Units ("RSUs") previously granted to the Reporting Person. Such withholding is exempt from Section 16 (b) pursuant to Rule 16b-3(e).
- F2Represents the forfeiture and termination of the portion of the shares of performance restricted stock issued in 2013 which did not vest as a result of the applicable performance conditions not achieving the level required for the vesting of all 109,510 shares of 2013 performance restricted stock originally granted.
- F3Represents shares previously acquired in transactions exempt under Rule 16b-3(c).
- F4Each RSU is issued pursuant to the Company's 2013 Long-Term Incentive Plan and represents a contingent right to receive one share of common stock, and vesting generally is subject to (i) the reporting person remaining an employee or director of the Company or its affiliates and (ii) the other criteria described in the footnotes below.
- F533 1/3 % of the original grant amount of these Time RSUs vested on February 19, 2016.
- F6These Time RSUs were previously granted on February 20, 2014. 33 1/3% of the original grant amount of these Time RSUs vests on February 19 of each of 2015, 2016 and 2017.
- F7These Time RSUs were previously granted on February 12, 2015. 33 1/3% of the original grant amount of these Time RSUs vest on February 19 of each of 2016, 2017 and 2018.