SEC Form 4 · accession 0001179110-18-004583
COWEN INC. · COWN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen Lasota
Officer — Chief Financial Officer
Period of report
Mar 15, 2018
Accepted (ET)
Mar 19, 2018 · 4:20 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001466538
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common Stock | Mar 15, 2018 | M | 25,000 | $11.60 | A | 223,550 | D | |
| Class A Common StockF1 | Mar 15, 2018 | D | 20,402 | $14.2143 | D | 203,148 | D | |
| Class A Common StockF2 | Mar 15, 2018 | F | 2,252 | $14.2143 | D | 200,896 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation Rights | $11.60 | Mar 15, 2018 | M | 25,000 | A | Mar 15, 2018 | Mar 15, 2018 | Class A Common Stock | 25,000 | 0 | D |
Explanation of responses
- F1This represents the difference between the number of stock appreciation rights ("SARs") exercised (25,000) and the number of shares issued as a result of the exercise (4,598). Each SAR represents the right, upon exercise, to receive a number of shares of Class A Common Stock equal in value to the number, if any, by which the 10-calendar day volume-weighted average price of the Company's Class A Common stock prior to the exercise date exceeds the exercise price.
- F2This represents the withholding of shares of Class A Common Stock to satisfy tax withholding obligations associated with the exercise of the SARs reported in this Form 4.