SEC Form 4 · accession 0001127602-16-064950
ITC Holdings Corp. · ITC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Albert Ernst
Director
Period of report
Oct 14, 2016
Accepted (ET)
Oct 18, 2016 · 5:35 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001317630
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock Without Par ValueF1 | Oct 14, 2016 | D | 5,843 | — | D | 4,528 | D | |
| Common Stock Without Par ValueF2 | Oct 14, 2016 | D | 4,528 | $45.72 | D | 0 | D | |
| Common Stock Without Par ValueF1 | Oct 14, 2016 | D | 2,940 | — | D | 0 | I | Held by Spouse |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Pursuant to the Agreement and Plan of Merger among FortisUS Inc., Element Acquisition Sub Inc., Fortis Inc., and ITC Holdings Corp., dated as of February 9, 2016 (the "Merger Agreement"), at the effective time of the merger (the "Effective Time), each outstanding share converted into the right to receive US$22.57 plus .7520 of a share of Fortis Inc. stock, which fractional share had a market value of US$29.84 at the Effective Time.
- F2Reporting Person held unvested restricted shares granted in 2014, 2015 and 2016 with time-based performance criteria. Pursuant to the Merger Agreement, these shares became vested at the Effective Time and converted into the right to receive cash.