SEC Form 4 · accession 0001127602-18-003858
Time Inc. · TIME
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Leslie Dukker Doty
Officer — EVP, Consumer Marketing & Rev
Period of report
Jan 8, 2018
Accepted (ET)
Feb 2, 2018 · 6:13 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 | 100,000 | A | Jan 31, 2018 | Jul 23, 2020 | Common Stock, par value $0.01 | 100,000 | 100,000 | D |
Explanation of responses
- F1This option, which provided for vesting in two equal installments beginning July 24, 2018, was canceled and converted into the right to receive an amount in cash, without interest, determined by multiplying (i) the excess of the per share merger consideration of $18.50 over the exercise price of such stock option by (ii) the number of shares of common stock underlying the stock option, less any applicable withholding taxes. Such transaction was exempt under Rule 16b-3.