SEC Form 4 · accession 0001179110-15-003383
HEALTH NET INC · HNT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jay M Gellert
Officer — President, CEO · Director
Period of report
Feb 20, 2015
Accepted (ET)
Feb 24, 2015 · 6:54 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000916085
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 20, 2015 | A | 32,050 | $0.00 | A | 1,113,522 | D | |
| Common StockF2 | Feb 20, 2015 | A | 123,750 | $0.00 | A | 1,237,272 | D | |
| Common StockF4 | Feb 21, 2015 | F | 7,029 | $56.49 | D | 1,230,243 | D | |
| Common StockF4 | Feb 21, 2015 | F | 21,525 | $56.49 | D | 1,208,718 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents restricted stock units ("RSUs") granted to the Reporting Person on February 20, 2015 (the "2015 Grant Date") under the Issuer's 2006 Long-Term Incentive Plan, as amended (the "2006 Plan"), which vest and become non-forfeitable as to 33-1/3% of the RSUs on each of the first, second and third anniversaries of the 2015 Grant Date.
- F2Represents performance share units ("PSUs") granted to the Reporting Person on February 21, 2014 (the "2014 Grant Date") under the 2006 Plan, which have been earned by the Reporting Person and which vest and become non-forfeitable as to 33-1/3% of the PSUs on each of the first, second and third anniversaries of the 2014 Grant Date (the "2014 PSU Grant").
- F3Shares withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of 33-1/3% of a grant of 41,250 RSUs made to the Reporting Person on February 21, 2014, pursuant to the 2006 Plan (the "RSU Vest").
- F4The number of shares withheld by the Issuer in connection with the RSU Vest and the PSU Vest was based on the closing price of the Issuer's common stock on February 20, 2015, pursuant to the terms of the 2006 Plan.
- F5Shares withheld by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the vesting of 33-1/3% of the 2014 PSU Grant, pursuant to the 2006 Plan (the "PSU Vest").