4//SEC Filing
SULLIVAN JOSEPH A 4
Accession 0000704051-20-000096
CIK 0000704051other
Filed
Aug 3, 8:00 PM ET
Accepted
Aug 4, 7:33 PM ET
Size
14.3 KB
Accession
0000704051-20-000096
Insider Transaction Report
Form 4
SULLIVAN JOSEPH A
Sr. Executive Vice President
Transactions
- Disposition to Issuer
Stock Options (Right to buy)
2020-07-31−49,820→ 0 totalExercise: $37.64Exp: 2025-05-15→ Common Stock (49,820 underlying) - Disposition to Issuer
Phantom Stock Units
2020-07-31−4,011.84→ 0 total→ Common Stock (4,011.84 underlying) - Disposition to Issuer
Common Stock
2020-07-31−6,665→ 0 total(indirect: By 401(k)) - Disposition to Issuer
Stock Options (Right to buy)
2020-07-31−336→ 0 totalExercise: $47.64Exp: 2022-05-16→ Common Stock (336 underlying) - Disposition to Issuer
Common Stock
2020-07-31−702,645.52→ 0 total
Footnotes (8)
- [F1]These shares were disposed of pursuant to the Agreement and Plan of Merger dated as of February 17, 2020 among the issuer, Alpha Sub, Inc. and Franklin Resources, Inc. in exchange for $50 per share on the effective date of the merger.
- [F2]Units represented ownership interests in the issuer's stock fund under the Legg Mason Profit Sharing and 401(k)Plan and Trust. The number shown has been adjusted for rounding and for the sale of a fractional unit sold for the purpose of covering mandatory administrative fees imposed on the plan participants' accounts, since the date of the person's last ownership report. Units were disposed of in the merger and transferred to a successor investment option based on the $50 per share merger consideration.
- [F3]Employee stock options vest serially over four years commencing on May 31, 2018.
- [F4]This option was terminated and cancelled as of immediately prior to the effective time of the merger and converted into the right to receive a lump sum cash payment in an amount equal to (A) the number of shares of the issuer's Common Stock underlying such option as of immediately prior to the effective time, multiplied by (B) an amount equal to (x) $50, minus (y) the exercise price of such option, net of any taxes withheld pursuant to the merger agreement
- [F5]Employee stock options vest serially over four years and commenced on May 31, 2015.
- [F6]1-for-1
- [F7]Phantom Stock Units acquired pursuant to and under conditions of the Legg Mason & Co., LLC Deferred Compensation/Phantom Stock Plan, as amended. See Exhibit 10.4 of the Form 10-K for the fiscal year ended March 31, 2009.
- [F8]The Legg Mason & Co., LLC Deferred Compensation/Phantom Stock Plan ("Plan") has been amended to provide that units previously delineated in common stock of the issuer will be equitably adjusted into the number of units delineated in common stock of Franklin Resources, Inc. based on the $50 per share merger consideration, and all distributions under the Plan will be made in cash.
Documents
Issuer
LEGG MASON, INC.
CIK 0000704051
Entity typeother
Related Parties
1- filerCIK 0001206673
Filing Metadata
- Form type
- 4
- Filed
- Aug 3, 8:00 PM ET
- Accepted
- Aug 4, 7:33 PM ET
- Size
- 14.3 KB