BILLINGS ERIC F 4
4 · Arlington Asset Investment Corp. · Filed Jul 2, 2019
Insider Transaction Report
Form 4
BILLINGS ERIC F
DirectorChairman & CEO
Transactions
- Award
Restricted Stock Units
2019-07-01+87,847→ 87,847 total→ Class A Common Stock (87,847 underlying)
Holdings
- 242,759
Class A Common Stock
Footnotes (3)
- [F1]Represents the current Class A common stock owned by the reporting person. No transaction occurred and is for informational purposes only.
- [F2]Each restricted stock unit ("RSU") represents a contingent right to receive one share of Class A common stock of Arlington Asset Investment Corp. (the "Company").
- [F3]Represents grant of RSUs pursuant to the Company's 2014 Long-Term Incentive Plan granted on July 1, 2019, in connection with Mr. Billings' retirement and consulting agreement dated June 6, 2019. The award agreement provides that these RSUs will vest ratably for an equal number of shares and become nonforfeitable on each of January 1, 2020, July 1, 2020, January 1, 2021, July 1, 2021 and January 1, 2022, subject to Mr. Billings' continued employment or consulting service to the Company. Vested RSUs are converted into shares of Class A common stock on a one-for-one basis, with any fractional shares being settled in cash. If a change in control occurs before the Settlement Date, the settlement will occur on the control change date.