SEC Form 4 · accession 0001306830-16-000287
Celanese Corp · CE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Edward G Galante
Director
Period of report
Apr 21, 2016
Accepted (ET)
Apr 25, 2016 · 5:01 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001306830
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Series A Common StockF1 | Apr 21, 2016 | A | 1,717 | $0.00 | A | 7,262 | D | |
| Series A Common StockF2 | Apr 22, 2016 | D | 1,848 | — | D | 5,414 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF3,F4 | — | Apr 22, 2016 | A | 1,848 | A | — | — | Series A Common Stock | 1,848 | 3,937 | D |
Explanation of responses
- F1Annual grant of restricted stock units pursuant to the Company's 2009 Global Incentive Plan, as Amended and Restated April 19, 2012. The restricted stock units vest in full on the one-year anniversary of the date of the grant. The reporting person has elected that upon vesting of the restricted stock units, receipt of the shares of Series A Common Stock be deferred under the Company's 2008 Deferred Compensation Plan; accordingly, upon vesting, the reporting person will instead receive an equal number of shares of phantom stock. As provided in the Company's 2008 Deferred Compensation Plan, the phantom stock becomes payable in shares of Series A Common Stock upon the earlier of the date previously elected by the reporting person to receive payment or the termination of the reporting person's service as a director of the Company.
- F2Upon vesting of 1,848 Restricted Stock Units granted to the reporting person on April 22, 2015, the reporting person deferred the receipt of 1,848 shares of Series A Common Stock and received instead 1,848 shares of phantom stock pursuant to the Company's 2008 Deferred Compensation Plan. As a result, the reporting person is reporting the disposition of 1,848 shares of Series A Common Stock in exchange for an equal number of shares of phantom stock.
- F3Each share of phantom stock represents the right to receive one share of Series A Common Stock.
- F4As provided in the 2008 Deferred Compensation Plan, on the earlier date previously elected by the reporting person to receive payment or the termination of the reporting person's service as a director of the Company, the reported phantom stock becomes payable in shares of Series A Common Stock subject to certain limitations.