SEC Form 4 · accession 0001677229-17-000001
LEGG MASON, INC. · LM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Shanda Media LTD
10% Owner
Shanda Investment Group Ltd
10% Owner
Tian Qiao Chen
10% Owner
Period of report
Jan 9, 2017
Accepted (ET)
Jan 11, 2017 · 6:22 am 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, $0.01 par valueF1,F2,F3 | Jan 9, 2017 | S | 420,000 | $30.7569 | D | 10,090,153 | I | See Footnote |
| Common Stock, $0.01 par valueF1,F4,F3 | Jan 10, 2017 | S | 340,000 | $31.1359 | D | 9,750,153 | I | See Footnote |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reporting persons sold the shares included in this Form 4 in an effort to bring their beneficial ownership of Legg Mason, Inc. below 10% of its issued and outstanding shares in order to be eligible for a potential waiver of the applicability to the reporting persons and their affiliates of the Maryland Business Combination Act.
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.525 to $31.34, inclusive. The reporting persons undertake to provide to Legg Mason, Inc., any security holder of Legg Mason, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.
- F3The securities set forth in this Form 4 are directly held by Shanda Asset Management Investment Limited. Mr. Tianqiao Chen is the sole shareholder of Shanda Media Limited. Shanda Media Limited owns 70% of all outstanding and issued shares of Shanda Investment Group Limited which is the sole shareholder of Shanda Technology Overseas Capital Company Limited. Shanda Technology Overseas Capital Company Limited is the sole shareholder of Shanda Asset Management Investment Limited.
- F4The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.69 to $31.48, inclusive. The reporting persons undertake to provide to Legg Mason, Inc., any security holder of Legg Mason, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (4) to this Form 4.