Elders David B 4
4 · Time Inc. · Filed Feb 2, 2018
Insider Transaction Report
Form 4
Time Inc.TIME
Elders David B
EVP, Chief Revenue Officer
Transactions
- Award
Stock Option (right to buy)
2018-01-08$14.20/sh+100,000$1,420,000→ 100,000 totalExercise: $14.20From: 2018-01-31Exp: 2020-07-23→ Common Stock, par value $0.01 (100,000 underlying)
Footnotes (1)
- [F1]On July 24, 2017, the reporting person was granted an option to purchase 100,000 shares of common stock. The number of options eligible to vest was subject to the Company's achievement, by December 31, 2017, of four operational performance goals. On January 8, 2018, the Company determined that all four operational performance goals were achieved and that, therefore, all 100,000 options were eligible to vest, solely upon continued performance of service, in equal installments on the first and second anniversaries of the grant date. However, these options became exercisable in full, on an accelerated basis, on January 31, 2018, by reason of the merger of the Company with a wholly-owned subsidiary of Meredith Corporation.