SEC Form 4 · accession 0001209191-15-012160
LEAR CORP · LEA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Raymond E Scott
Officer — EVP & President, Seating
Period of report
Feb 9, 2015
Accepted (ET)
Feb 11, 2015 · 6:09 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000842162
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 9, 2015 | M | 11,182 | $0.00 | A | 24,295 | D | |
| Common Stock | Feb 9, 2015 | F | 3,797 | $107.09 | D | 20,498 | D | |
| Common Stock | Feb 9, 2015 | A | 56,023 | $0.00 | A | 76,521 | D | |
| Common Stock | Feb 9, 2015 | F | 25,883 | $107.09 | D | 50,638 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1 | — | Feb 9, 2015 | M | 11,182 | D | — | — | Common Stock | 11,182 | 0 | D |
| Restricted Stock UnitsF4,F5 | — | Feb 9, 2015 | A | 7,054 | A | — | — | Common Stock | 7,054 | 7,054 | D |
Explanation of responses
- F1Each restricted stock unit is convertible into a share of common stock on a 1-for-1 basis. The restricted stock units vested and settled in common stock on February 9, 2015.
- F2Shares withheld by the Company to satisfy minimum tax withholding requirements.
- F3Settlement of non-derivative performance shares for the three-year performance period ending December 31, 2014, granted under the 2009 Lear Corporation Long-Term Stock Incentive Plan and exempt from liability under Section 16(b) of the Securities Exchange Act pursuant to Rule 16b-3(d).
- F4Converts into common stock on a 1-for-1 basis.
- F5The compensation committee certified on February 9, 2015 that company achieved the 2014 net income performance goal for the restricted stock unit awards granted in 2014 under the Lear Corporation 2009 Long-Term Stock Incentive Plan. These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in common stock on February 6, 2017.