SEC Form 4 · accession 0001643595-17-000001
Motorola Solutions, Inc. · MSI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bruce W Brda
Officer — EVP, Products & Services
Period of report
Mar 9, 2017
Accepted (ET)
Mar 13, 2017 · 8:39 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000068505
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Motorola Solutions, Inc. - Common StockF1 | Mar 9, 2017 | F | 610 | $81.37 | D | 14,953 | D | |
| Motorola Solutions, Inc. - Common StockF2,F1 | Mar 10, 2017 | M | 2,359 | $0.00 | A | 17,312 | D | |
| Motorola Solutions, Inc. - Common StockF1 | Mar 10, 2017 | F | 766 | $82.10 | D | 16,546 | D | |
| Motorola Solutions, Inc. - Common StockF1 | Mar 10, 2017 | F | 452 | $82.10 | D | 16,094 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Stock UnitsF3,F4 | — | Mar 9, 2017 | A | 6,803 | A | — | — | Motorola Solutions, Inc. - Common Stock | 6,803 | 6,803 | D |
| Market Stock UnitsF4,F3 | — | Mar 10, 2017 | M | 2,034 | D | — | — | Motorola Solutions, Inc. - Common Stock | 2,034 | 4,068 | D |
Explanation of responses
- F1Includes shares acquired under the Motorola Solutions Employee Stock Purchase Plan and through the reinvestment of dividends.
- F2Represents the vesting (2,034) and payout (2,359) of the first tranche (1/3) of the market stock units (MSU) granted on March 10, 2016 at 116% payout factor and such payout includes 325 shares which were above the target number of shares originally reported.
- F3Each market stock unit (MSU") converts into shares of common stock on a 1-for-1 basis but the number of MSUs earned varies from 0% to 200% of the target number of MSUs based on the average of the closing price of the Company's common stock on the date of grant and the thirty calendar days immediately preceding the date of grant (referred to as Share Price on Date of Grant) as compared to the closing share price of the Company's common stock on the vesting date and the thirty calendar days immediately preceding the vesting date (referred to as Share Price on Vesting Date).
- F4One third of the MSU award will vest on each of the first, second and third anniversaries of the date of grant and will be converted into shares of common stock based on a payout factor, provided that the MSUs will only vest if the Share Price on the Vesting Date equals at least 60% of the Share Price on the Date of Grant.