4//SEC Filing
GOLDBERG MICHELLE J 4
Accession 0000890319-20-000076
CIK 0000890319other
Filed
Jun 2, 8:00 PM ET
Accepted
Jun 3, 3:59 PM ET
Size
6.9 KB
Accession
0000890319-20-000076
Insider Transaction Report
Form 4
GOLDBERG MICHELLE J
Director
Transactions
- Award
Common Stock
2020-06-01+3,976→ 9,401 total
Footnotes (3)
- [F1]Under The Taubman Centers, Inc. (the Company) Non-Employee Directors' Deferred Compensation Plan, each non-employee director may defer the receipt of all or a portion of his or her annual cash and equity retainers until the earlier of the termination of such director's service on the Company's Board of Directors and upon a change of control. Such deferred compensation is denominated in restricted stock units. The number of restricted stock units received for the quarterly installment of the annual cash retainer equals the deferred cash retainer fee divided by the fair market value of the Company's common stock on the business day immediately before the date the director would otherwise have been entitled to receive the retainer fee. The number of restricted stock units received for the annual equity retainer equals the deferred equity retainer fee divided by the average closing price of the Company's common stock during the month preceding the grant date.
- [F2]The shares referred to above represent the annual equity retainer for June 1, 2020 through May 31, 2021 and the quarterly installment of the annual cash retainer for three months beginning June 1, 2020, which have been deferred in full, and would have otherwise been payable under The Taubman Company LLC 2018 Omnibus Long-Term Incentive Plan.
- [F3]The restricted stock units represent the right to receive equivalent shares of common stock at the end of the deferral period, and each director's account is 100% vested at all times. Therefore, the reporting person has elected to report the deferral as shares of common stock received on the grant date. If a non-employee director's service terminates for any reason, other than death or disability or a termination within three months of a change in control of the Company, such director will forfeit a pro rata portion (based on the number of months served) of the most recent annual equity retainer, including any equity grant that has been deferred in accordance with the Non-Employee Directors' Deferred Compensation Plan. If a director's service terminates due to death, disability or within three months of a change in control of the Company, none of the most recent annual equity retainer will be forfeited.
Documents
Issuer
TAUBMAN CENTERS INC
CIK 0000890319
Entity typeother
Related Parties
1- filerCIK 0001650305
Filing Metadata
- Form type
- 4
- Filed
- Jun 2, 8:00 PM ET
- Accepted
- Jun 3, 3:59 PM ET
- Size
- 6.9 KB