SEC Form 4 · accession 0000899243-18-014977
WESTAR ENERGY INC /KS · WR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Greg A Greenwood
Officer — SVP, Strategy
Period of report
Jun 4, 2018
Accepted (ET)
Jun 4, 2018 · 5:52 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000054507
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, Par Value $5.00 | Jun 4, 2018 | A | 18,405 | $0.00 | A | 59,706 | D | |
| Common Stock, Par Value $5.00 | Jun 4, 2018 | A | 31,257 | $0.00 | A | 90,963 | D | |
| Common Stock, Par Value $5.00 | Jun 4, 2018 | F | 24,551 | $55.8925 | D | 66,412 | D | |
| Common Stock, Par Value $5.00F5,F6 | Jun 4, 2018 | D | 66,412 | $55.08 | D | 0 | D | |
| Common Stock, Par Value $5.00F6 | Jun 4, 2018 | D | 2,186 | $55.08 | D | 0 | I | 401(k) plan account |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Grant of 18,405 restricted share units on 6/4/18 that will vest ratably in one third increments on the anniversary of the grant date.
- F2Vesting of 31,257 performance-based restricted share units that were granted on 2/24/16, 2/26/17 and 2/21/18. Under the terms of the grants of performance-based restricted share units, the number of shares to be received at vesting is increased or decreased based on the Issuer's Total Shareholder Return as compared to the Total Shareholder Return for a defined Peer Group of companies for the defined Performance Period. Under the terms of a merger agreement between Westar Energy, Inc. and Great Plains Energy Incorporated, performance-based restricted share units vest on the merger closing date at the greater of the target award or the actual number based on the performance criteria. The determination that the performance criteria relating to the grant had been met and the calculation of the number of shares to be distributed were completed on 6/4/18.
- F3Forfeiture of 24,551 shares for the payment of taxes upon the vesting and distribution of 55,357 time-based and performance-based restricted share units granted on 2/24/16, 2/26/17 and 2/21/18.
- F4Shares of Westar Energy, Inc. stock and the restricted share units granted on 6/4/18 were exchanged for shares of Evergy, Inc. stock and Evergy, Inc. restricted share units pursuant to a merger agreement between Westar Energy, Inc. and Great Plains Energy Incorporated on a 1 to 1 basis.
- F5Fractional shares from different accounts equalling approximately 2 shares were paid in cash.
- F6Solely for purposes of this filing, the estimated market value per share of Evergy, Inc. common stock on 6/4/18 was $55.08 per share (the closing stock price of the common stock of Westar Energy, Inc. as reported on the New York Stock Exchange on 6/1/18).