SEC Form 4 · accession 0000899243-18-014990
WESTAR ENERGY INC /KS · WR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bruce A Akin
Officer — SVP, Power Delivery
Period of report
Jun 4, 2018
Accepted (ET)
Jun 4, 2018 · 5:57 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 $5.00F2 | Jun 4, 2018 | A | 13,803 | $0.00 | A | 49,664 | D | |
| Common Stock, Par Value $5.00 | Jun 4, 2018 | A | 13,241 | $0.00 | A | 62,905 | D | |
| Common Stock, Par Value $5.00 | Jun 4, 2018 | F | 8,899 | $55.8925 | D | 54,006 | D | |
| Common Stock, Par Value $5.00F6 | Jun 4, 2018 | D | 54,006 | $55.08 | D | 0 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Grant of 13,803 restricted share units on 6/4/18 that will vest ratably in one third increments on the anniversary of the grant date.
- F2The reporting person no longer has a reportable beneficial interest in 26 shares owned by his daughter, which were included in the reporting person's prior ownership reports.
- F3Vesting of 13,241 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.
- F4Forfeiture of 8,899 shares for the payment of taxes upon the vesting and distribution of 23,356 time-based and performance-based restricted share units granted on 2/24/16, 2/26/17 and 2/21/18.
- F5Shares 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.
- 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).