SEC Form 4 · accession 0001127602-18-003663
Time Inc. · TIME
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Susana D'Emic
Officer — EVP & Chief Financial Officer
Period of report
Jan 8, 2018
Accepted (ET)
Feb 2, 2018 · 4:24 pm EST
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F1 | $14.20 | Jan 8, 2018 | A | 200,000 | A | Jan 31, 2018 | Jul 23, 2020 | Common Stock, par value $0.01 | 200,000 | 200,000 | D |
Explanation of responses
- F1On July 24, 2017, the reporting person was granted an option to purchase 200,000 shares of common stock. The number of options eligible to vest was subject to the Company's achievement, by December 31, 2017, of four operational performance goals. On January 8, 2018, the Company determined that all four operational performance goals were achieved and that, therefore, all 200,000 options were eligible to vest, solely upon continued performance of service, in equal installments on the first and second anniversaries of the grant date. However, these options became exercisable in full, on an accelerated basis, on January 31, 2018, by reason of the merger of the Company with a wholly-owned subsidiary of Meredith Corporation.