SEC Form 4 · accession 0001209191-18-017303
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
Mar 3, 2018
Accepted (ET)
Mar 6, 2018 · 4:42 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 | Mar 3, 2018 | M | 6,252 | — | A | 30,203 | D | |
| Common StockF2 | Mar 3, 2018 | F | 2,726 | $123.30 | D | 27,477 | D | |
| Common StockF3 | Mar 4, 2018 | M | 4,523 | — | A | 32,000 | D | |
| Common StockF2 | Mar 4, 2018 | F | 1,973 | $123.30 | D | 30,027 | 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,F4 | — | Mar 3, 2018 | M | 4,523 | D | — | Mar 3, 2020 | Common Stock | 4,523 | 9,046 | D |
| Restricted Stock UnitsF3,F4 | — | Mar 4, 2018 | M | 6,252 | D | — | Mar 4, 2019 | Common Stock | 6,252 | 6,253 | D |
Explanation of responses
- F1Each Restricted Stock Unit, which is the economic equivalent of one share of Visteon common stock, automatically vested on March 3, 2018 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 March 2, 2018, the next preceding trading day.
- 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 March 2, 2018, the next preceding trading day.
- F3Each Restricted Stock Unit, which is the economic equivalent of one share of Visteon common stock, automatically vested on March 4, 2018 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 March 2, 2018, the next preceding trading day.
- 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.