SEC Form 4 · accession 0000899243-18-020963
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
Jul 30, 2018
Accepted (ET)
Aug 1, 2018 · 4:09 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 StockF2 | Jul 30, 2018 | F | 618 | $21.18 | D | 62,492 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reporting person surrendered to Verso Corporation 618 shares of Class A Common Stock in payment of the tax withholding liability arising from the vesting of 2,217 Stock Units.
- F2Consists of (i) 3,082 shares of Class A Common Stock, (ii) 2,218 Stock Units vesting on July 28, 2019, (iii) 42,373 Stock Units vesting in two substantially equal annual installments beginning on January 1, 2020, and (iv) 14,819 Stock Units vesting in two substantially equal annual installments beginning on January 1, 2021. Each Stock Unit represents the right, subject to vesting, to receive one share of Class A Common Stock. 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 established by the issuer have been met, and (b) 14,819 Stock Units that will vest on or about January 1, 2021, if certain performance objectives established by the issuer have been met.