SEC Form 4 · accession 0001225208-15-017252
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
Aug 17, 2015
Accepted (ET)
Aug 18, 2015 · 6:49 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 StockF2 | Aug 17, 2015 | M | 17,881 | $16.94 | A | 158,472 | D | |
| Common StockF2 | Aug 17, 2015 | M | 1,096 | $11.97 | A | 159,568 | D | |
| Common StockF3 | Aug 17, 2015 | F | 13,458 | $41.03 | D | 146,110 | D | |
| Common StockF4 | Aug 18, 2015 | S | 5,519 | $40.7427 | 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 | $16.94 | Aug 17, 2015 | M | 17,881 | D | Jan 27, 2011 | Jan 26, 2020 | Common Stock | 17,881 | 35,883 | D |
| Stock option | $11.97 | Aug 17, 2015 | M | 1,096 | D | Jan 28, 2010 | Jan 27, 2019 | Common Stock | 1,096 | 0 | D |
Explanation of responses
- F1The exercise of stock options and corresponding sale of shares reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 8, 2015.
- F2The 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.
- F3Reflects the number of shares surrendered in connection with the net exercise of the options and the number of shares withheld by the issuer to cover tax obligations relating to the net exercise of the options.
- F4This transaction was executed in multiple trades at prices ranging from $40.53 to $41.12. 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.