SEC Form 4 · accession 0001127602-16-040479
Time Inc. · TIME
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph A Ripp
Officer — Chairman & CEO · Director
Period of report
Feb 8, 2016
Accepted (ET)
Feb 10, 2016 · 9:20 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001591517
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.01F1 | Feb 8, 2016 | A | 139,082 | $0.00 | A | 385,646 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F2 | $14.38 | Feb 8, 2016 | A | 858,369 | A | — | Feb 7, 2026 | Common Stock, par value $0.01 | 858,369 | 858,369 | D |
| Performance Stock UnitsF3 | — | Feb 8, 2016 | A | 113,636 | A | — | Mar 15, 2018 | Common Stock, par value $0.01 | 113,636 | 113,636 | D |
Explanation of responses
- F1Represents restricted stock units that are scheduled to vest ratably over four years on February 8 of each of 2017, 2018, 2019 and 2020.
- F2The stock options are scheduled to vest ratably over four years on February 8 of each of 2017, 2018, 2019 and 2020.
- F3Each performance stock unit represents a contingent right to receive one share of common stock of the Issuer. The performance stock units shall vest on March 15, 2018 in an amount from 0% to 275% of the number of performance stock units granted based on the average fair market value of the Issuer's common stock during the period commencing on February 15, 2018 and ending on March 15, 2018.