Filing Details

Accession Number:
0000890319-17-000043
Form Type:
4
Zero Holdings:
No
Publication Time:
2017-03-03 17:44:16
Reporting Period:
2017-03-01
Filing Date:
2017-03-03
Accepted Time:
2017-03-03 17:44:16
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
890319 Taubman Centers Inc TCO Real Estate Investment Trusts (6798) 382033632
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1066546 S Robert Taubman Taubman Centers, Inc.
200 E. Long Lake Road, Suite 300
Bloomfield Hills MI 48304
President, Ceo, And Chair Bod 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 Acquisiton 2017-03-01 15,568 $0.00 29,344 No 4 M Direct
Common Stock Disposition 2017-03-01 6,827 $69.15 22,517 No 4 F Direct
Common Stock Acquisiton 2017-03-01 9,653 $0.00 32,170 No 4 A Direct
Common Stock Disposition 2017-03-01 4,462 $69.15 27,708 No 4 F Direct
Common Stock Acquisiton 2017-03-01 60,376 $51.15 88,084 No 4 M Direct
Common Stock Disposition 2017-03-01 51,132 $68.83 36,952 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 M Direct
No 4 F Direct
No 4 A Direct
No 4 F Direct
No 4 M Direct
No 4 S Direct
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Common Stock Restricted Stock Units Disposition 2017-03-01 15,568 $0.00 15,568 $0.00
Common Stock Incentive Options (right to buy) Disposition 2017-03-01 60,376 $0.00 60,376 $51.15
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
0 No 4 M Direct
0 2017-03-07 No 4 M Direct
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 265,246 Indirect By a limited liability company
Common Stock 244,000 Indirect By wife
Common Stock 11,405 Indirect As UTMA custodian for daughter
Common Stock 8,245 Indirect As UTMA custodian for son
Common Stock 8,245 Indirect As UTMA custodian for son
Common Stock 186,837 Indirect By limited liability company
Common Stock 711,504 Indirect By limited liability company
Footnotes
  1. Performance share units (PSU) were granted to the reporting person pursuant to The Taubman Company 2008 Omnibus Long-Term Incentive Plan (Omnibus Incentive Plan). Each PSU represents a contingent right to receive, upon vesting, shares of the Company's common stock ranging from 0-300% of the PSU based on the Company's total shareholder return relative to that of a peer group. The PSU vested on March 1, 2017 with a payout ratio of 62%, which was certified by the Company's Compensation Committee on March 3, 2017.
  2. This price represents the weighted average price of the multiple transactions reported on this line. The shares were sold at prices ranging from $68.51 to $69.15 per share. Upon request by the SEC staff, the issuer, or any security holder of the issuer, the reporting person will provide full information regarding the number of shares sold at each separate price.
  3. Mr. Taubman disclaims all beneficial interest in the shares of common stock owned by his wife or in the UTMA accounts for the benefit of his children.
  4. Mr. Taubman disclaims all beneficial interest in the shares of common stock owned by such limited liability company beyond his pecuniary interest therein.
  5. Restricted stock units were granted to the reporting person pursuant to the Omnibus Incentive Plan. Each restricted stock unit represents a contingent right to receive upon vesting one share of the Company's common stock.
  6. Amount includes additional units granted as part of a grant modification completed in December 2014 in connection with a special dividend.
  7. The restricted stock units vested on March 1, 2017.
  8. Options were granted to the reporting person pursuant to The Taubman Realty Group Limited Partnership ("TRG") 1992 Incentive Option Plan, as amended (the "Plan"). The Company is the Managing General Partner of TRG. Options granted under the Plan are exercisable for units of limited partnership interest in TRG. Under the Company's continuing offer to employees covered by the Plan and certain other partners in TRG, each unit of limited partnership interest in TRG held by an offeree is exchangeable for one share of the Company's common stock.
  9. This price reflects a reduction of the per share exercise price by $4.75 as a result of a modification of unexercised stock options completed in December 2014 in connection with a special dividend.
  10. The options vested as follows: 20,126 options vested on March 1, 2008 and 40,250 options vested in two equal installments on March 1, 2009 and 2010, respectively.