SEC Form 4 · accession 0001127602-16-040483
Time Inc. · TIME
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Norman Pearlstine
Officer — EVP & Chief Content Officer
Period of report
Feb 8, 2016
Accepted (ET)
Feb 10, 2016 · 9:27 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 | 17,385 | $0.00 | A | 44,361 | D | |
| Common Stock, par value $0.01F2 | holding | — | — | — | 91 | I | By Spouse |
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)F3 | $14.38 | Feb 8, 2016 | A | 107,296 | A | — | Feb 7, 2026 | Common Stock, par value $0.01 | 107,296 | 107,296 | 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 reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
- F3The stock options are scheduled to vest ratably over four years on February 8 of each of 2017, 2018, 2019 and 2020.