SEC Form 4 · accession 0000899243-18-005446
Verso Corp · VRS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kenneth D Sawyer
Officer — SVP - HR & Comm
Period of report
Feb 22, 2018
Accepted (ET)
Feb 26, 2018 · 3:11 pm EST
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 | Feb 22, 2018 | A | 14,819 | $0.00 | A | 63,110 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Consists of 14,819 Stock Units. Each Stock Unit represents the right, subject to vesting, to receive one share of Class A Common Stock. The Stock Units will vest as follows: (a) 7,409 Stock Units will vest on January 1, 2021; and (b) 7,410 Stock Units will vest on January 1, 2022. The reported Stock Units do not include 14,819 Stock Units that will vest on or about January 1, 2021, if certain performance objectives established by the issuer have been met.
- F2Consists of: (i) the 14,819 Stock Units described in footnote (1); (ii) 1,483 shares of Class A Common Stock; (iii) 4,435 Stock Units vesting in two substantially equal installments beginning on July 28, 2018; (iv) 21,186 Stock Units that will vest on January 1, 2020; and (v) 21,187 Stock Units that will vest on January 1, 2021. The reported Stock Units do not include: (a) 42,373 Stock Units that will vest on or about January 1, 2020, if certain performance objectives which have been established by the issuer have been met; and (b) the 14,819 Stock Units that will vest on or about January 1, 2021, if certain performance objectives established by the issuer have been met, as described in footnote (1).