SEC Form 4 · accession 0001127602-16-065020
Time Inc. · TIME
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gregory Giangrande
Officer — EVP,CHRO&Chief Comm'ns Officer
Period of report
Oct 17, 2016
Accepted (ET)
Oct 19, 2016 · 4:41 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001591517
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Stock UnitsF1 | — | Oct 17, 2016 | A | 11,364 | A | — | Mar 15, 2018 | Common Stock, par value $0.01 | 11,364 | 45,455 | D |
Explanation of responses
- F1Each 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.