SEC Form 4 · accession 0001209191-16-101899
CITIGROUP INC · C
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Corbat
Officer — Chief Executive Officer · Director
Period of report
Feb 22, 2016
Accepted (ET)
Feb 24, 2016 · 4:17 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000831001
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 502,223 | D | ||
| Common Stock | holding | — | — | — | 1,781 | I | By Family Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitF1,F2 | — | Feb 22, 2016 | A | 48,457 | A | Mar 4, 2016 | Sep 2, 2016 | Common Stock | 48,457 | 48,457 | D |
Explanation of responses
- F1On February 19, 2013 the Reporting Person received from the Issuer a target award of 71,365.84 Performance Share Units ("PSUs"), with the possibility to earn from 0% to 100% of the target award, based on (i) the Issuer's average return on assets over the three-year period ending on December 31, 2015 (the "Performance Period") and (2) the Issuer's total shareholder return relative to the total shareholder return of certain of its peer financial services companies during the Performance Period. Based on the adjustments described above, the Reporting Person is entitled to receive 48,457.41 PSUs.
- F2(Continuation of Footnote 1) Each PSU is payable only in cash which is expected to be delivered two-thirds on March 4, 2016 and the remainder on September 2, 2016. Each PSU is equivalent to the cash value of the average of the high and low prices of one share of the Issuer's common stock on February 19, 2016 and February 22, 2016, plus dividends declared on equivalent shares of the Issuer's common stock from December 31, 2012 through February 19, 2016.