SEC Form 4 · accession 0001225208-17-013171
EMMIS COMMUNICATIONS CORP · EMMS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick M Walsh
Officer — President, COO
Period of report
Jul 31, 2017
Accepted (ET)
Aug 2, 2017 · 4:21 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000783005
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1 | Jul 31, 2017 | A | 5,407 | $0.00 | A | 198,573 | D | |
| Class A Common StockF2 | Jul 31, 2017 | F | 2,712 | $2.96 | D | 195,861 | D | |
| Class A Common StockF2 | Jul 31, 2017 | F | 30,506 | $2.96 | D | 165,355 | D | |
| Class A Common StockF3 | Aug 1, 2017 | A | 176,679 | $0.00 | A | 342,034 | D | |
| Class A Common Stock | holding | — | — | — | 1,455 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option Right To BuyF4 | $2.83 | Aug 1, 2017 | A | 62,500 | A | Jul 31, 2019 | Aug 1, 2027 | Class A Common Stock | 62,500 | 62,500 | D |
Explanation of responses
- F1The Company exercised its right under Executive's employment agreement to pay a portion of the executive's salary in shares of Class A Common Stock.
- F2Total number of shares withheld to satisfy tax withholding obligations.
- F3The acquistion of Class A Common Stock represents a restricted stock grant where half will vest on the first anniversary of the grant (7/31/2018) and half will vest on the second anniversary of the grant (7/31/2019).
- F4Options were granted per Executive's 2017 Employment Agreement. Options will vest on the 2nd anniversary of the grant (7/31/2019).