SEC Form 4 · accession 0000704051-17-000014
LEGG MASON, INC. · LM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph A Sullivan
Officer — Chairman, President & CEO · Director
Period of report
Feb 16, 2017
Accepted (ET)
Feb 17, 2017 · 12:37 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000704051
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Feb 16, 2017 | M | 35,000 | $27.45 | A | 387,156 | D | |
| Common StockF1,F2 | Feb 16, 2017 | S | 29,744 | $36.06 | D | 357,412 | D | |
| Common Stock | holding | — | — | — | 5,163 | I | By 401K |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to buy)F3 | $27.45 | Feb 16, 2017 | M | 35,000 | D | Jul 23, 2010 | Jul 22, 2017 | Common Stock | 35,000 | 0 | D |
Explanation of responses
- F1Represents a sale of shares upon the exercise of options, to pay the option exercise price and related tax withholding.
- F2Includes the acquisition of 215.28 shares of Legg Mason, Inc. Common Stock pursuant to the Legg Mason, Inc. Employee Stock Purchase Plan for dates January 13th, January 31st and February 15th, 2017 at prices ranging from $27.65 to $31.29.
- F3Employee stock options vested serially over 5 years commencing on July 23, 2010.