LORILLARD, INC. 4
4 · LORILLARD, INC. · Filed Feb 20, 2015
Insider Transaction Report
Form 4
Milstein Ronald S.
Senior VP, GC and Secretary
Transactions
- Award
Common Stock
2015-02-18+15,587→ 107,547 total - Sale
Common Stock
2015-02-20$67.74/sh−6,153$416,816→ 101,394 total
Footnotes (3)
- [F1]The shares reflect the 2014 Performance Restricted Stock Units ("RSUs") granted on February 19, 2014 that were earned based on the Company's achievement of target adjusted earnings per share for 2014 and converted to 15,587 shares of restricted stock, which vest on the third anniversary of the 2014 grant date, subject to continued employment.
- [F2]The shares were sold to fund withholding taxes in connection with the February 17, 2015 vesting of restricted stock granted on February 17, 2012. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on October 30, 2014.
- [F3]Represents the weighted average sale price. The shares were sold at prices ranging from $67.53 to $68.02. 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.