Sanford Michael F. 4
4 · AVON PRODUCTS INC · Filed May 17, 2018
Insider Transaction Report
Form 4
Sanford Michael F.
Director
Transactions
- Exercise/Conversion
Common Stock
2018-05-16+32,486→ 32,486 total - Disposition to Issuer
Common Stock
2018-05-16$1.88/sh−32,486$61,074→ 0 total - Award
Phantom Stock
2018-05-16+61,170→ 61,170 total→ Common Stock (61,170 underlying) - Exercise/Conversion
Phantom Stock
2018-05-16−32,486→ 0 totalFrom: 2018-05-16Exp: 2018-05-16→ Common Stock (32,486 underlying)
Footnotes (4)
- [F1]Each share of phantom stock was the economic equivalent of one share of Common Stock. The terms of the grant of Phantom Stock required a settlement in cash and payout upon vesting. The reporting person, therefore, had no discretion to settle his shares of phantom stock upon vesting in anything but cash.
- [F2]Phantom Stock granted as part of the Reporting person's annual director retainer in lieu of restricted stock units typically granted under the Avon Products, Inc. Compensation Plan for Non-Employee Directors.
- [F3]Each share of Phantom Stock corresponds 1-for-1 with common stock but is required to settle in cash.
- [F4]100% of the Phantom Stock vests on the date of the next Annual Meeting of Shareholders.