LORILLARD, INC. 4
4 · LORILLARD, INC. · Filed Feb 21, 2014
Insider Transaction Report
Form 4
Hennighausen Charles E.
Executive Vice President
Transactions
- Award
Common Stock
2014-02-19+4,793→ 86,003 total - Award
Common Stock
2014-02-19+17,129→ 81,210 total - Sale
Common Stock
2014-02-20$47.27/sh−11,023$521,011→ 74,980 total
Footnotes (4)
- [F1]The shares reflect the portion of the 2013 Performance Restricted Stock Units ("RSUs") granted on February 13, 2013 that were earned based on the Company's achievement of target adjusted earnings per share for 2013 and converted to 17,129 shares of restricted stock, which vest on the third anniversary of the 2013 grant date, subject to continued employment.
- [F2]The restricted stock vests on the third anniversary of the grant date, subject to continued employment.
- [F3]The shares were sold to fund withholding taxes in connection with the February 17, 2014 vesting of restricted stock granted on February 16, 2011. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 18, 2011.
- [F4]Represents the weighted average sale price. The shares were sold at prices ranging from $47.11 to $47.62. The reporting person undertakes to provide upon request to the SEC staff, the issuer or security holders of the issuer information regarding the number of shares and prices at which the transaction was effected.