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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 | ||||||||
Salary Stock Units (1) | (2) | 03/31/2013 | A | 7,894 | (3) | (3) | Common Stock | 7,894 | $ 0 (2) | 7,894 | D | ||||
Restricted Stock Units (4) | (4) | 04/01/2013 | A | 53,822 | (4) | (4) | Common Stock | 53,822 | $ 0 (4) | 53,822 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Neumann Karl-Thomas 300 RENAISSANCE CENTER M/C: 492-C25-A36 DETROIT, MI 48265-3000 |
Vice President |
/s/ Anne T. Larin, attorney-in-fact for Dr. Neumann | 04/02/2013 | |
**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) | The Salary Stock Units ("SSUs) reported in this item were granted on March 31, 2013 pursuant to the Company's Salary Stock Plan (the "GMSSP") and will be settled in three equal, annual installments beginning March 31, 2014. |
(2) | Each SSU is the economic equivalent of one share of the Company's common stock. Grants of SSU are fully vested when made and will be settled in three equal, annual installments beginning one year after the date of grant, by the delivery of cash in an amount equal to the fair market value of the Company's common stock as of the applicable anniversary date of the SSU's grant. Under the GMSSP, the fair value of the Company's common stock is the average of the high and low trading prices for the Company's common stock as reported on the New York Stock Exchange, on which it is listed, on the date of the transaction, which was $27.87. |
(3) | The SSUs do not have an expiration or exercise date or carry a conversion or exercise price. |
(4) | Restricted Stock Units ("RSUs") were awarded on April 1, 2013, pursuant to the Company's 2009 Long-Term Incentive Plan (the "GMLTP"). One half of the RSUs will vest on April 1, 2014, and the remaining half will vest on April 1, 2015, provided that the reporting person remains continuously employed through the vesting date. Each RSU represents a right to receive one shares of the Company's common stock upon settlement. RSUs will be settled when they vest provided that the conditions in the GMLTP have been satisfied. The RSUs do not have an expiration or exercise date or carry a conversion or exercise price. |