SEC Form 4 · accession 0000899243-16-015581
ITT INC. · ITT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Luca Savi
Officer — See Remarks
Period of report
Mar 5, 2016
Accepted (ET)
Mar 8, 2016 · 7:46 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000216228
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 5, 2016 | A | 8,844 | — | A | 43,740 | D | |
| Common StockF2 | Mar 8, 2016 | D | 3,531 | $37.21 | D | 40,209 | D | |
| Common StockF3 | Mar 8, 2016 | F | 4,169 | $37.21 | D | 36,040 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Acquired upon the settlement of performance units granted on March 5, 2013 under the ITT Corporation 2011 Omnibus Incentive Plan as a result of the satisfaction of the performance criteria underlying the award.
- F2Reflects the cash settlement following vesting on March 5, 2016 of an equal number of restricted stock units granted under the ITT Corporation 2011 Omnibus Incentive Plan on March 5, 2013. Each restricted stock unit represented the right to receive on the vesting date either one share of the Issuer's common stock or cash equal to the fair market value on the vesting date of one share of the Issuer's common stock. The cash settlement amount was determined on March 8, 2016 based on the average of the high/low price of the Issuer's common stock on March 7, 2016.
- F3Reflects the withholding of shares of common stock to pay the tax liability incident to the settlement of performance units on March 5, 2016, as described in footnote (1) above. The number of shares withheld was determined on March 8, 2016 based on the average of the high/low price of the Issuer's common stock on March 7, 2016.
Remarks
EVP & President, Motion Technologies