SEC Form 4 · accession 0001209191-15-021178
VISTEON CORP · VC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Widgren
Officer — SVP & Chief Accounting Officer
Period of report
Feb 28, 2015
Accepted (ET)
Mar 3, 2015 · 4:08 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001111335
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 28, 2015 | M | 1,986 | — | A | 14,041 | D | |
| Common StockF2 | Feb 28, 2015 | F | 630 | $100.89 | D | 13,411 | D | |
| Common StockF3 | Feb 28, 2015 | F | 181 | $100.89 | D | 13,230 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF4 | — | Feb 28, 2015 | D | 1,595 | D | — | Dec 31, 2014 | Common Stock | 1,595 | 1,986 | D |
| Performance RightsF4 | — | Feb 28, 2015 | M | 1,986 | D | — | Dec 31, 2014 | Common Stock | 1,986 | 0 | D |
Explanation of responses
- F1The Performance Rights automatically vested on February 28, 2015 and were converted and paid to me in stock without any election or action on my part. The value of each right was based on the fair market value of Visteon common stock as of February 27, 2015, the next preceding trading day.
- F2The shares were withheld by Visteon to satisfy income tax withholding obligations arising in connection with the vesting of certain Performance Rights. The value of each share was based on the fair market value of Visteon common stock as of February 27, 2015, the next preceding trading day.
- F3The shares were withheld by Visteon to satisfy income tax withholding obligations arising in connection with the vesting of certain shares of restricted common stock. The value of each share was based on the fair market value of Visteon common stock as of February 27, 2015, the next preceding trading day.
- F4Each Performance Right represents a contingent right to receive one share of Visteon common stock. The Performance Rights vested based on relative total shareholder return over a three year performance period and were paid in stock at the election of the Company.
- F5These Performance Rights were forfeited due to the performance criteria being met partially.