SEC Form 4 · accession 0001140361-15-043496
MERITOR INC · MTOR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Timothy J. Heffron
Officer — VP, HR & CIO
Period of report
Dec 1, 2015
Accepted (ET)
Dec 3, 2015 · 11:59 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001113256
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3,F4 | Dec 2, 2015 | S | 1,889 | $10.3448 | D | 3,951 | D | |
| Common StockF5 | holding | — | — | — | 11,555 | I | Meritor Savings Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share UnitsF6 | $0.00 | Dec 1, 2015 | A | 16,745 | A | — | — | Common Stock | 16,745 | 16,745 | D |
| Restricted Share UnitsF4,F7 | $0.00 | holding | — | — | — | — | — | Common Stock | 21,004 | 21,004 | D |
| Restricted Share UnitsF4,F8 | $0.00 | holding | — | — | — | — | — | Common Stock | 15,000 | 15,000 | D |
Explanation of responses
- F1The sales reported in this Form 4 were effected to cover tax withholding obligations upon vesting of 5,840 Restricted Share Units ("RSUs").
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $10.24 to $10.54, inclusive. The reporting person undertakes to provide to Meritor, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
- F3Reflects vesting on December 1, 2015 of 5,840 RSUs.
- F4The amount of securities shown as beneficially owned by Mr. Heffron on Table I has been reduced by 36,004 RSUs, which were previously reported on Table I. This Form 4 reflects the previously reported 12/1/14 grant of 21,004 RSUs, and 12/1/13 grant of 15,000 RSUs on Table II.
- F5Shares purchased periodically and held in Meritor common stock funds in an employee benefit trust fund established under the Meritor, Inc. Savings Plan. The information in this report is based on information furnished by the plan administrator as of December 1, 2015.
- F6Acquisition of RSUs as equity compensation. The date of grant of the RSUs was December 1, 2015. Each RSU represents the right to receive one share of common stock of the Company or its cash equivalent upon the vesting date, which occurs at the earlier of three years from the date of grant or upon termination of employment with the Company under certain circumstances.
- F7The date of grant of the RSUs was December 1, 2014. Each RSU represents the right to receive one share of common stock of the Company or its cash equivalent upon the vesting date, subject to the terms and conditions described in footnote 6 above.
- F8The date of grant of the RSUs was December 1, 2013. Each RSU represents the right to receive one share of common stock of the Company or its cash equivalent upon the vesting date, subject to the terms and conditions described in footnote 6 above.