VADON MARK C 4
4 · Qurate Retail, Inc. · Filed Dec 11, 2020
Insider Transaction Report
Form 4
Qurate Retail, Inc.QRTEA
VADON MARK C
Director
Transactions
- Award
Stock Option (right to buy) - QRTEA
2020-12-10+24,726→ 24,726 totalExercise: $10.34From: 2021-12-10Exp: 2027-12-10→ Series A Common Stock (24,726 underlying)
Holdings
- 70,209
Stock Option (right to buy) - QRTEA
Exercise: $4.92From: 2020-12-09Exp: 2026-12-09→ Series A Common Stock (70,209 underlying) - 381,189
Stock Option (right to buy) - QRTEA
Exercise: $8.89Exp: 2023-05-15→ Series A Common Stock (381,189 underlying)
Footnotes (4)
- [F1]On November 20, 2020, the Issuer announced that its board of directors declared a special cash dividend in the amount of $1.50 per share on each outstanding share of its common stock payable on December 7, 2020 to all holders of record as of 5:00 p.m., New York City time, on November 30, 2020 (the "Dividend"). This stock option award was previously reported as an option relating to 65,383 shares of the Issuer's Series A common stock at an exercise price of $5.27 per share and was adjusted as a result of the Dividend. In connection with the Dividend, all stock options held by the reporting person with respect to the Issuer's common stock were adjusted pursuant to the anti-dilution provisions of the incentive plan under which such award was granted, such that the reporting person received an adjustment to (i) the exercise price and (ii) the number of shares relating to such option. These adjustments were approved by the Issuer's board of directors pursuant to Rule 16b-3.
- [F2]The derivative security is fully vested.
- [F3]This stock option award was previously reported as an option relating to 354,403 shares of the Issuer's Series A common stock at an exercise price of $9.53 per share and was adjusted as a result of the Dividend. In connection with the Dividend, all stock options held by the reporting person with respect to the Issuer's common stock were adjusted pursuant to the anti-dilution provisions of the incentive plan under which such award was granted, such that the reporting person received an adjustment to (i) the exercise price and (ii) the number of shares relating to such option. These adjustments were approved by the Issuer's board of directors pursuant to Rule 16b-3.
- [F4]The option is early-exercisable at any time by the holder of the option. This option is divided into five equal sub-grants. Each sub-grant vests in 48 monthly installments commencing on the following dates: May 16, 2013 (first sub-grant), May 16, 2014 (second sub-grant), May 16, 2015 (third sub-grant), May 16, 2016 (fourth sub-grant) and May 16, 2017 (fifth sub-grant).