SEC Form 4 · accession 0001209191-17-012897
CITIGROUP INC · C
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James C Cowles
Officer — CEO, Europe,Middle East&Africa
Period of report
Feb 20, 2017
Accepted (ET)
Feb 21, 2017 · 6:25 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 StockF1 | Feb 20, 2017 | F | 21,680 | $60.12 | D | 292,861 | D | |
| Common Stock | holding | — | — | — | 80 | I | By Children | |
| Common Stock | holding | — | — | — | 2,000 | I | By Trust | |
| Common Stock | holding | — | — | — | 50 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitF2,F3 | — | Feb 20, 2017 | A | 18,278 | A | — | — | Common Stock | 18,278 | 18,278 | D |
Explanation of responses
- F1Withholding of shares of common stock to satisfy tax withholding obligations in connection with the vesting of previously awarded stock.
- F2On February 18, 2014 the Reporting Person received from the Issuer a target award of 36,338.00 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, 2016 (the "Performance Period") and (ii) 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 18,278.01 PSUs.
- F3(Continuation of Footnote 2) Each PSU is payable only in cash which is expected to be delivered two-thirds on March 17, 2017 and the remainder on or about September 15, 2017. Each PSU delivered on March 17, 2017 is equivalent to the cash value of the average of the closing prices of one share of the Issuer's common stock for the period February 13, 2017 through February 17, 2017, plus dividends declared on equivalent shares of the Issuer's common stock from December 31, 2013 through March 17, 2017. With respect to the remaining PSUs to be delivered on or about September 15, 2017, each PSU will be equivalent to the cash value of the average of the closing prices of one share of the Issuer's common stock for the period August 14, 2017 through August 18, 2017, plus dividends declared on equivalent shares of the Issuer's common stock from December 31, 2013 through August 20, 2017.