SEC Form 4 · accession 0001209191-15-021272
LANXESS Solutions US Inc. · CHMT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Laurence Michael Orton
Officer — VP, Corporate Controller
Period of report
Mar 1, 2015
Accepted (ET)
Mar 3, 2015 · 4:30 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001091862
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Mar 1, 2015 | A | 3,524 | $0.00 | A | 20,338 | D | |
| Common Stock | Mar 1, 2015 | F | 1,596 | $26.25 | D | 18,742 | D | |
| Common StockF3 | Mar 2, 2015 | S | 1,300 | $26.50 | D | 17,442 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF4 | — | Mar 1, 2015 | A | 3,524 | A | — | Mar 1, 2018 | Common Stock | 3,524 | 3,524 | D |
Explanation of responses
- F1Grant of restricted stock units. The restricted stock units vest in three equal installments: March 1, 2016; March 1, 2017; and March 1, 2018.
- F2Due to a typographical error in the reporting person's Form 4 filed on January 6, 2015, the reporting person's final holdings were incorrectly reported as 13,817 shares rather than 13,317. As a result, the reporting person's Form 4s filed on January 13, 2015 and January 16, 2015 also incorrectly included 500 additional shares. The error has been corrected in this total.
- F3The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
- F4Grant of performance shares. Each performance share represents a contingent right to receive between 0 and 2 shares of Chemtura Corporation common stock. The number of shares reported represents the target amount. The actual number of shares to be delivered will be based on Chemtura Corporation's total shareholder return over the three-year vesting period relative to all companies in the Dow Jones US Chemical Index and could equal 200% of the target amount. The performance shares will settle as soon as practicable after December 31, 2017 but no later than March 1, 2018.