SEC Form 4 · accession 0000899243-16-024150
VECTOR GROUP LTD · VGR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Howard M Lorber
Officer — President and CEO · Director
Period of report
Jul 1, 2016
Accepted (ET)
Jul 1, 2016 · 9:15 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000059440
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jul 1, 2016 | A | 157,500 | $0.00 | A | 859,087 | D | |
| Common StockF3 | Jul 1, 2016 | F | 87,561 | $22.47 | D | 771,526 | D | |
| Common StockF4 | Jul 1, 2016 | J | 69,939 | $0.00 | D | 701,587 | D | |
| Common StockF4,F5 | Jul 1, 2016 | J | 69,939 | $0.00 | A | 139,858 | I | By: Lorber Gamma Limited Partnership |
| Common StockF6 | holding | — | — | — | 2,460,148 | I | By: Lorber Alpha II Limited Partnership |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The Reporting Person received a restricted stock grant on July 23, 2014. The grant vests equally in seven equal installments on August 15, 2015, July 1, 2016, July 1, 2017, July 1, 2018, July 1, 2019, July 1, 2020 and July 1, 2021 based upon the Issuer achieving certain performance targets and the Reporting Person being continuously employed by Vector Group Ltd. This amount represents the second vesting.
- F2Represents a transfer of shares from the Reporting Person to the Issuer as payment of the Reporting Person's tax liability incident to the vesting of shares of restricted stock, which were awarded on July 23, 2014, and vested on July 1, 2016.
- F3Represents the average of the high ($22.565) and low ($22.38) stock prices of the Issuer's Common Stock on date of vesting.
- F4Represents a transfer of shares from the Reporting Person to Lorber Gamma Limited Partnership.
- F5Lorber Gamma, Inc., a Nevada corporation, is the general partner of Lorber Gamma Limited Partnership, a Nevada limited partnership. The reporting person is a director, officer and controlling stockholder of Lorber Gamma, Inc.
- F6Lorber Alpha II, Inc., a Nevada corporation, is the general partner of Lorber Alpha II Limited Partnership, a Nevada limited partnership. The reporting person is a director, officer and controlling stockholder of Lorber Alpha II, Inc.