Home > Insider Trading > Filing (0001209191-14-013135)

Filing Details

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
Common Stock	Acquisiton	2014-02-19	144,928	$0.00	543,965	No	4	A	Direct
Common Stock	Acquisiton	2014-02-19	40,552	$0.00	584,517	No	4	A	Direct
Common Stock	Disposition	2014-02-20	202,653	$47.27	381,864	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	A	Direct
No	4	A	Direct
No	4	S	Direct

Footnotes

The shares reflect the portion of the 2013 Performance Restricted Stock Units ("RSUs") granted on February 13, 2013 that were earned based on the Company's achievement of target adjusted earnings per share for 2013 and converted to 144,928 shares of restricted stock, which vest on the third anniversary of the 2013 grant date, subject to continued employment.
The restricted stock vests on the third anniversary of the grant date, subject to continued employment.
A portion of shares were sold to fund withholding taxes in connection with the February 17, 2014 vesting of restricted stock granted on February 16, 2011. The remaining shares were sold as part of a diversification strategy. Following these transactions, the Reporting Person holds shares of Issuer representing more than 14x 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.
Represents the weighted average sale price. The shares were sold at prices ranging from $47.11 to $47.62. 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.