Filing Details

Accession Number:
0001209191-13-044612
Form Type:
4
Zero Holdings:
No
Publication Time:
2013-09-17 16:32:51
Reporting Period:
2013-09-16
Filing Date:
2013-09-17
Accepted Time:
2013-09-17 16:32:51
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1424847 Lorillard Inc. LO Cigarettes (2111) 131911176
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1208563 S Murray Kessler 714 Green Valley Road
Greensboro NC 27408
Chairman, President And Ceo Yes Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2013-09-16 37,818 $44.51 399,037 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Direct
Footnotes
  1. A portion of the shares were sold to fund withholding taxes in connection with the September 13, 2013 vesting of restricted stock granted on September 13, 2010. The remaining shares were sold as part of a diversification strategy. Following this sale of shares, the Reporting Person holds shares of issuer representing more than 13x his base salary, which exceeds the 6x requirement under the issuer's Stock Ownership Guidelines. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 15, 2013.
  2. Represents the weighted average sale price. The shares were sold at prices ranging from $44.42 to $44.60. The Reporting Person undertakes to provide upon request to the SEC staff, the issuer or security holders of the issuer information regarding the number of shares and prices at which the transaction was effected.