SEC Form 4 · accession 0000899243-17-017880
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, 2017
Accepted (ET)
Jul 5, 2017 · 7:01 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, 2017 | A | 345,375 | $0.00 | A | 732,040 | D | |
| Common StockF2 | Jul 1, 2017 | F | 191,967 | $21.36 | D | 540,073 | D | |
| Common StockF3 | 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 restricted stock grants on July 23, 2014 (the "2014 Award") and November 10, 2015 (the "2015 Award"). The grants vest equally in seven equal installments with the 2014 Award vesting in installments of 165,375 shares on August 15, 2015, July 1, 2016, July 1, 2017, July 1, 2018, July 1, 2019, July 1, 2020 and July 1, 2021 and the 2015 Award vesting in installments of 180,000 on November 15, 2016, July 1, 2017, July 1, 2018, July 1, 2019, July 1, 2020, July 1, 2021 and July 1, 2022, in each case, based upon the Issuer achieving certain performance targets and the Reporting Person being continuously employed by Vector Group Ltd. This amount includes the third vesting of the 2014 Award and the second vesting of the 2015 Award.
- F2Represents the average of the high ($21.22) and low ($21.50) stock prices of the Issuer's Common Stock on June 30, 2017, the last trading day before the date of vesting, which was on a non-trading day (Saturday).
- F3Lorber 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.