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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Performance Share Unit | (5) (6) | 01/22/2018 | A | 39,491.79 | (5)(6) | (5)(6) | Common Stock | 39,491.79 | $ 0 | 39,491.79 (5) (6) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Gerspach John C C/O CORPORATE LAW DEP'T, CITIGROUP INC. 153 EAST 53RD STREET, 19TH FLOOR NEW YORK, NY 10022 |
Chief Financial Officer |
John C. Gerspach by Joseph B. Wollard, Attorney-in-Fact | 01/24/2018 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Withholding of shares of common stock to satisfy tax withholding obligations in connection with the vesting of previously awarded stock. |
(2) | Reflects the following distributions from the Reporting Person's current and expired Grantor Retained Annuity Trusts ("GRATs") to the Reporting Person's direct holdings that occurred since his last Form 4 filing on February 16, 2017: 14,890 shares from 2015 GRAT-1 on May 23, 2017; 15,067 shares from 2016 GRAT-1 on May 23, 2017; 14,827 shares from 2015 GRAT-2 on November 14, 2017; and 14,048 shares from 2016 GRAT-2 on November 14, 2017. In addition, on November 14, 2017, the Reporting Person transferred 2,082 shares from the expired 2015 GRAT-2 to a Trust account of which he is the Trustee. |
(3) | On May 11, 2017, the Reporting Person transferred 40,000 shares to the 2017 Grantor Retained Annuity Trust 1 ("GRAT 1"), of which he is the Trustee. |
(4) | On November 14, 2017, the Reporting Person transferred 30,000 shares to the 2017 Grantor Retained Annuity Trust 2 ("GRAT 2"), of which he is the Trustee. |
(5) | On February 16, 2015 the Reporting Person received from the Issuer a target award of 41,526.60 Performance Share Units ("PSUs"), with the possibility to earn from 0% to 150% of the target award, based on (i) the Issuer's average return on assets over the three-year period ending on December 31, 2017 (the "Performance Period") and (2) the Issuer's total shareholder return relative to the total shareholder return of certain of its peer financial services companies during the Performance Period. Based on the adjustments described above, the Reporting Person is entitled to receive 39,491.79 PSUs. |
(6) | (Continuation of Footnote 5) Each PSU is payable only in cash which is expected to be delivered on February 16, 2018. Each PSU is equivalent to the cash value of the average of the closing prices of one share of the Issuer's common stock for the period January 12, 2018 through January 19, 2018, plus dividends declared on equivalent shares of the Issuer's common stock from December 31, 2014 through February 16, 2018. |