Sawyer Kenneth D 4
4 · Verso Corp · Filed Jan 16, 2020
Insider Transaction Report
Form 4
Verso CorpVRS
Sawyer Kenneth D
Vice President - HR
Transactions
- Tax Payment
Class A Common Stock
2020-01-14$16.56/sh−24,502$405,753→ 104,562 total - Award
Class A Common Stock
2020-01-14+63,559→ 129,064 total
Footnotes (3)
- [F1]Consists of 63,559 shares of common stock acquired upon the vesting of 42,373 performance-based stock units granted on October 12, 2017. The performance conditions applicable to the award were determined to have been satisfied by Verso Corporation's ("Verso") Compensation Committee on January 14, 2020, resulting in the stock units vesting at 150% of the original grant based upon the compound annual growth rate ("CAGR") of Verso's publicly traded voting common stock price over the three-year period from January 1, 2017 to January 1, 2020 (the "Measurement Period") as compared to the CAGR during the Measurement Period of the publicly traded voting common stock prices of a peer group of companies.
- [F2]The reporting person surrendered to Verso 24,502 shares of common stock to satisfy applicable tax withholding liability in connection with the performance-based award referenced above.
- [F3]Consists of (i) 60,599 shares of common stock, (ii) 21,187 stock units vesting on January 1, 2021, (iii) 14,819 stock units vesting in two substantially equal annual installments beginning on January 1, 2021, and (iv) 7,957 stock units vesting in two substantially equal annual installments beginning on January 1, 2021. Each stock unit represents the right, subject to vesting, to receive one share of common stock.