SEC Form 4 · accession 0001209191-16-144516
VISTEON CORP · VC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christian A Garcia
Officer — EVP & Chief Financial Officer
Period of report
Oct 1, 2016
Accepted (ET)
Oct 4, 2016 · 5:29 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001111335
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F1,F2 | $71.37 | Oct 1, 2016 | A | 4,047 | A | — | Oct 1, 2023 | Common Stock | 4,047 | 4,047 | D |
| Performance RightsF3 | — | Oct 1, 2016 | A | 2,289 | A | — | Jan 31, 2019 | Common Stock | 2,289 | 2,289 | D |
| Restricted Stock UnitsF4 | — | Oct 1, 2016 | A | 1,315 | A | — | Oct 1, 2019 | Common Stock | 1,315 | 1,315 | D |
| Restricted Stock UnitsF5 | — | Oct 1, 2016 | A | 9,765 | A | Oct 1, 2019 | Oct 1, 2019 | Common Stock | 9,765 | 9,765 | D |
Explanation of responses
- F1The value of each share was based on the fair market value of Visteon common stock as of September 30, 2016, the next preceding trading day.
- F2The option is exercisable to the extent of one third of the shares optioned after one year from the date of grant, two-thirds in two years and in full after three years.
- F3Each performance right represents a contingent right to receive one share of Visteon common stock. The vesting of the performance rights is based on relative total shareholder return over a three year performance period and payable in stock or cash at the election of Visteon, subject to tax withholding.
- F4Restricted Stock Units vest to the extent of 33% of the units granted each year following the first annivesary of the date of grant until the third anniverary of the date of grant. Each Restricted Stock Unit will be converted and distributed to me, without payment, in cash or stock at the election of Visteon, upon vesting and based upon the then current market value of a share of Visteon common stock, subject to tax withholding.
- F5Each Restricted Stock Unit will be converted and distributed to me, without payment, in stock or cash at the election of Visteon, upon vesting and based upon the then current market value of a share of Visteon common stock, subject to tax withholding.