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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 Units | (4) (5) | 01/20/2019 | A | 57,153.04 | (4)(5) | (4)(5) | Common Stock | 57,153.04 | $ 0 | 57,153.04 (4) (5) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Gerspach John C C/O CORPORATE LAW DEP'T, CITIGROUP INC. 388 GREENWICH STREET NEW YORK, NY 10013 |
Chief Financial Officer |
John C. Gerspach by Joseph B. Wollard, Attorney-in-Fact | 01/23/2019 | |
**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 Grantor Retained Annuity Trusts ("GRATs") to the Reporting Person's direct holdings that occurred since his last Form 4 filing on May 18, 2018: 15,036 shares from 2016 GRAT-2 on November 14, 2018 and 15,201 shares from 2017 GRAT-2 on November 15, 2018. In addition, on November 28, 2018, the Reporting Person transferred 10,916 shares from the expired 2016 GRAT-2 to Trust accounts of which his wife is the Trustee. |
(3) | On November 20, 2018, the Reporting Person transferred 40,000 shares to the 2018 GRAT 2, of which he is the Trustee. |
(4) | On February 16, 2016 the Reporting Person received from the Issuer a target award of 68,825.91 Performance Share Units ("PSUs"), with the possibility to earn from 0% to 150% of the target award, based on the Issuer's total shareholder return relative to the total shareholder return of certain of its peer financial services companies during the three-year period ending on December 31, 2018. Based on the adjustments described above, the Reporting Person is entitled to receive 57,153.04 PSUs. |
(5) | (Continuation of Footnote 4) Each PSU is payable only in cash which is expected to be delivered on or about February 28, 2019. 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 December 20, 2018 through January 18, 2019, plus dividends declared on equivalent shares of the Issuer's common stock from December 31, 2015 through February 28, 2019. |