SEC Form 4 · accession 0001144980-18-000070
ASBURY AUTOMOTIVE GROUP INC · ABG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
George Karolis
Officer — SVP, Corp. Dev. & Real Estate
Period of report
Mar 12, 2018
Accepted (ET)
Mar 14, 2018 · 4:33 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001144980
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 12, 2018 | M | 874 | $0.00 | A | 8,667 | D | |
| Common StockF2 | Mar 12, 2018 | F | 266 | $68.75 | D | 8,401 | D | |
| Common StockF3 | Mar 13, 2018 | S | 3,150 | $69.54 | D | 5,251 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitsF4 | — | Mar 12, 2018 | A | 2,622 | A | — | — | Common Stock | 2,622 | 2,622 | D |
| Performance Share UnitsF4 | — | Mar 12, 2018 | M | 874 | D | — | — | Common Stock | 874 | 1,748 | D |
Explanation of responses
- F1Represents shares of the Issuer's common stock issued upon the vesting of performance share units granted on February 8, 2017. This transaction represents the vesting of one-third of this award.
- F2Represents the number of shares of the Issuer's common stock withheld for payment of taxes upon the vesting of performance share units, and the conversion of such units into shares of the Issuer's common stock, granted on February 8, 2017.
- F3Represents the weighted average share price of an aggregate total of 3,150 shares of Issuer's common stock sold in the price range of $69.53 to $69.58 by the reporting person. The reporting person undertakes to provide upon request by the Commission staff, the Issuer or security holder, full information regarding the number of shares sold at each separate price.
- F4Represents vesting of performance share units upon the Issuer having met certain performance objectives, which objectives were certified as having been met on March 12, 2018. Each performance share unit converts into one share of the Issuer's common stock upon vesting. One-third of the performance share units granted on February 8, 2017 vested upon certification of the objectives having been met, which occurred on March 12, 2018, an additional one-third vests on February 8, 2019 and the remaining one-third vests on February 8, 2020.