SEC Form 4 · accession 0001562180-19-000241
VECTREN CORP · VVC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael L Smith
Director
Period of report
Jan 8, 2019
Accepted (ET)
Jan 9, 2019 · 10:27 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001096385
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF2 | $0.00 | Jan 1, 2019 | I | 1,761 | D | — | — | Common Stock | 1,761 | 16,921 | D |
Explanation of responses
- F1The reporting person received an optional scheduled distribution from the Vectren Corporation Nonqualified Deferred Compensation Plan pursuant to the terms of the Plan. The distribution elections were made during open enrollment for the 2012 Plan year. This discretionary transaction is exempt under Rule 16b-3(b)(f). Each share of phantom stock was the equivalent of one share of Vectren common stock. Pursuant to the terms of the Plan, the phantom shares were payable in cash to the reporting person within 60 days of the scheduled distribution date.
- F2Phantom stock units held under the non-qualified deferred compensation plan will effectively be exercised at the time amounts represented by those units are paid out under the Plan. Generally, unless provided otherwise by the participant, the payout begins with the end of the board member's service as a member of the board. Pursuant to the non-qualified deferred compensation plan, payouts can occur for up to 15 years. Amounts held in the phantom stock accounts would be amortized over that period unless directed otherwise by the participant.