SEC Form 4 · accession 0001127602-16-040694
PRUDENTIAL FINANCIAL INC · PRU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles F Lowrey
Officer — Executive Vice President
Period of report
Feb 9, 2016
Accepted (ET)
Feb 11, 2016 · 4:48 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001137774
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 9, 2016 | M | 23,483 | $0.00 | A | 67,489 | D | |
| Common StockF2 | Feb 9, 2016 | F | 10,826 | $63.59 | D | 56,663 | D | |
| Common Stock | holding | — | — | — | 126 | I | By 401(k) |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2016 Employee Stock Option (Right to Buy)F3 | $63.59 | Feb 9, 2016 | A | 59,937 | A | — | Feb 9, 2026 | Common Stock | 59,937 | 59,937 | D |
| 2016 Performance SharesF4,F5 | — | Feb 9, 2016 | A | 19,740 | A | — | — | Common Stock | 19,740 | 19,740 | D |
| 2013 Performance SharesF1 | $0.00 | Feb 9, 2016 | M | 15,655 | D | — | — | Common Stock | 15,655 | 0 | D |
Explanation of responses
- F1The Compensation Committee awarded these shares, the grant of which was made on February 12, 2013, and originally reported on a Form 4 filed with the SEC on February 14, 2013, based upon performance relative to the average Return On Equity (ROE) goals during the 2013 through 2015 performance period.
- F2Represents shares withheld for the payment of taxes.
- F3The options vest in three equal annual installments beginning on February 9, 2017.
- F4The performance shares convert to common stock on a 1 to 1 basis.
- F5Represents the target number of shares to be received relative to the Company's average ROE goals for the 2016 through 2018 performance period and relative performance against certain life insurance peer companies. The actual number of shares to be received will be determined by the Compensation Committee in February 2019.