SEC Form 4 · accession 0000899243-17-017830
Verso Corp · VRS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Peter H. Kesser
Officer — SVP, Gen Counsel & Sec
Period of report
Jun 30, 2017
Accepted (ET)
Jul 5, 2017 · 6:01 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001421182
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1,F2 | Jun 30, 2017 | D | 7,761 | — | D | 0 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Consists of 7,761 Stock Units. Each Stock Unit represents the right, subject to vesting, to receive one share of Class A Common Stock. The Stock Units vest in one-third (1/3) installments on each of the first, second and third anniversaries of the grant date.
- F2Verso Corporation agreed to pay to the reporting person the greater of (a) $38,805.00 and (b) the product obtained by multiplying 7,761 by 1.5 by the closing sale price of the Class A Common Stock on the New York Stock Exchange on July 26, 2017, in lieu of the delivery of 7,761 shares of Class A Common Stock upon the accelerated vesting of the Stock Units.