SEC Form 4 · accession 0000899243-16-033619
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
Nov 15, 2016
Accepted (ET)
Nov 15, 2016 · 8:30 pm EST
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,F2 | Nov 15, 2016 | A | 180,000 | $0.00 | A | 916,665 | D | |
| Common StockF4,F2 | Nov 15, 2016 | F | 100,016 | $20.84 | D | 816,649 | D | |
| Common StockF5,F2 | Nov 15, 2016 | J | 79,984 | $0.00 | D | 736,665 | D | |
| Common StockF5,F2,F6 | Nov 15, 2016 | J | 79,984 | $0.00 | A | 226,834 | I | By: Lorber Gamma Limited Partnership |
| Common StockF2,F7 | holding | — | — | — | 2,583,153 | 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 November 10, 2015. The grant vests equally in seven equal installments on November 15, 2016, July 1, 2017, July 1, 2018, July 1, 2019, July 1, 2020, July 1, 2021 and July 1, 2022 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.
- F2All shares have been adjusted to reflect 5% stock dividend, which was paid by the Issuer on September 29, 2016.
- F3Represents 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 November 10, 2015, and vested on November 15, 2016.
- F4Represents the average of the high $20.99 and low $20.69 stock prices of the Issuer's Common Stock on date of vesting.
- F5Represents a transfer of shares from the Reporting Person to Lorber Gamma Limited Partnership.
- F6Lorber Gamma LLC, a Delaware limited liability company, is the general partner of Lorber Gamma Limited Partnership, a Nevada limited partnership. The reporting person serves as the Managing Member of the Lorber Gamma LLC and has voting and dispositive power with respect to such shares
- F7Lorber Alpha II LLC, a Delaware limited liability company, is the general partner of Lorber Alpha II Limited Partnership, a Nevada limited partnership. The reporting person serves as the Managing Member of the Lorber Alpha II LLC and has voting and dispositive power with respect to such shares.