SEC Form 4 · accession 0001209191-17-042838
VISTEON CORP · VC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sachin Lawande
Officer — CEO & President · Director
Period of report
Jun 29, 2017
Accepted (ET)
Jul 3, 2017 · 4:32 pm EDT
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 | Jun 29, 2017 | M | 3,382 | — | A | 9,662 | D | |
| Common StockF2 | Jun 29, 2017 | F | 1,563 | $101.19 | D | 8,099 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F3 | — | Jun 29, 2016 | M | 3,382 | D | — | Jun 29, 2018 | Common Stock | 3,382 | 3,382 | D |
Explanation of responses
- F1Each Restricted Stock Unit, which is the economic equivalent of one share of Visteon common stock, automatically vested on June 29, 2017 and was converted and paid to me in common stock without any election or action on my part. The value of each share was based on the fair market value of Visteon common stock as of June 29, 2017.
- F2These shares were withheld by Visteon to satisfy income tax withholding obligations arising in connection with the vesting of certain Restricted Stock Units. The value of each share was based on the fair market value of Visteon common stock as of June 29, 2017.
- F3Restricted 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.