SEC Form 4 · accession 0001209191-17-017546
HIGHWOODS PROPERTIES, INC. · HIW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark F Mulhern
Officer — EVP/CFO
Period of report
Mar 1, 2017
Accepted (ET)
Mar 3, 2017 · 4:26 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000921082
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 1, 2017 | A | 11,936 | $0.00 | A | 61,717 | D | |
| Common StockF2 | Mar 1, 2017 | A | 3,439 | $0.00 | A | 65,156 | D | |
| Common StockF3 | Mar 1, 2017 | F | 6,579 | $0.00 | D | 58,577 | D | |
| Common Stock | Mar 1, 2017 | M | 6,062 | $39.20 | A | 64,639 | D | |
| Common Stock | Mar 1, 2017 | M | 11,682 | $45.61 | A | 76,321 | D | |
| Common Stock | Mar 1, 2017 | M | 8,078 | $43.55 | A | 84,399 | D | |
| Common StockF4 | Mar 1, 2017 | S | 25,822 | $52.34 | D | 58,577 | D |
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 buy)F5 | $52.49 | Mar 1, 2017 | A | 22,876 | A | — | Feb 28, 2027 | Common Stock | 22,876 | 22,876 | D |
| Employee Stock Option (right to buy)F5 | $39.20 | Mar 1, 2017 | M | 6,062 | D | — | Sep 29, 2024 | Common Stock | 6,062 | 6,063 | D |
| Employee Stock Option (right to buy)F5 | $45.61 | Mar 1, 2017 | M | 11,682 | D | — | Feb 27, 2025 | Common Stock | 11,682 | 11,680 | D |
| Employee Stock Option (right to buy)F5 | $43.55 | Mar 1, 2017 | M | 8,078 | D | — | Feb 28, 2026 | Common Stock | 8,078 | 24,232 | D |
Explanation of responses
- F1Consists of time-based restricted stock that vests ratably over four years on March 1st of each year after the grant date and total return-based restricted stock that vests at the end of the applicable measurement period to the extent actual performance exceeds certain levels of performance.
- F2Represents the number of shares earned under the Company's Long-Term Incentive Plan - Total Shareholder Return Plan because the Company achieved above target levels of performance relative to predetermined goals.
- F3In accordance with the terms of the initial restricted stock award and in connection with the vesting of the award, the reporting person tendered a portion of the restricted stock award to the issuer in satisfaction of tax liabilities.
- F4Represents the weighted average sale price. Sale prices range from $52.00 - $52.61.
- F5Options vest ratably over four years on March 1st of each year after the grant date.