SEC Form 4 · accession 0001225208-15-012481
Matson, Inc. · MATX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Matthew J Cox
Officer — President & CEO
Period of report
May 18, 2015
Accepted (ET)
May 19, 2015 · 6:10 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000003453
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 18, 2015 | M | 20,000 | $11.97 | A | 160,591 | D | |
| Common StockF2 | May 18, 2015 | F | 12,919 | $43.29 | D | 147,672 | D | |
| Common StockF3 | May 19, 2015 | S | 7,081 | $42.847 | D | 140,591 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock option | $11.97 | May 18, 2015 | M | 20,000 | D | Jan 28, 2010 | Jan 27, 2019 | Common Stock | 20,000 | 39,065 | D |
Explanation of responses
- F1The reported number of shares of the Issuer's common stock and the exercise price payable per share were appropriately adjusted, in accordance with the anti-dilution provisions applicable to the option grant, to reflect the distribution by Issuer of the outstanding shares of Alexander & Baldwin, Inc. (a newly-formed subsidiary formerly known as A&B II, Inc.) to the Issuer's stockholders in a pro-rata spin-off transaction at the close of business on June 29, 2012. Those adjustments preserved the intrinsic value that exists with respect to the option grant immediately prior to such distribution.
- F2Reflects the number of shares surrendered in connection with the net exercise of the option and the number of shares withheld by the issuer to cover tax obligations relating to the net exercise of the option.
- F3This transaction was executed in multiple trades at prices ranging from $42.620 to $43.140. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.