Howard M. Lorber - Feb 24, 2023 Form 4 Insider Report for VECTOR GROUP LTD (VGR)

Signature
/s/ J. Bryant Kirkland III, Attorney-In-Fact
Stock symbol
VGR
Transactions as of
Feb 24, 2023
Transactions value $
-$1,522,622
Form type
4
Date filed
2/27/2023, 08:00 PM
Previous filing
Feb 17, 2023
Next filing
Mar 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VGR Common Stock Award $0 +138K +5.63% $0.00 2.58M Feb 24, 2023 Direct F1
transaction VGR Common Stock Tax liability -$1.52M -113K -4.38% $13.47 2.47M Feb 24, 2023 Direct F2
holding VGR Common Stock 2.63M Feb 24, 2023 By: Lorber Alpha II Limited Partnership F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person received performance-based restricted stock grants of 250,000 and 300,000 shares, respectively, on February 24, 2021 and March 1, 2022. The 2021 grant vested, or will vest, in four installments (62,500 shares in the case of the 2023 vesting) on February 24, 2022, February 24, 2023, February 24, 2024 and February 24, 2025, based upon the Issuer achieving certain performance targets and the Reporting Person being continuously employed by Vector Group Ltd. This amount represents the second vesting of the award. The 2022 grant vested, or will vest, in four installments (75,000 shares in the case of the 2023 vesting) on February 24, 2023, February 24, 2024, February 24, 2025 and February 24, 2026, based upon the Issuer achieving certain performance targets and the Reporting Person being continuously employed by Vector Group Ltd. This amount represents the first vesting of the award.
F2 Represents withholdings of shares as payment of the reporting person's tax liabilities incident to the vesting of (a) 137,500 shares of performance-based restricted stock referenced in footnote 1 and (b) 137,500 shares of restricted stock, which were awarded to reporting person on February 24, 2021 (62,500) and March 1, 2022 (75,000) and were previously reported at the time of the grant. The shares withheld were valued at $13.47 per share, which represented the average of the low ($13.19) and high ($13.75) stock prices of the Issuer's Common Stock on February 24, 2023, the date of vesting.
F3 Lorber Alpha II LLC, a Delaware limited liability company, is the general partner of Lorber Alpha II Limited Partnership, a Nevada limited partnership. The Reporting Person serves as the Managing Member of Lorber Alpha II LLC and has voting and dispositive power with respect to such shares.

Remarks:

Exhibit 24 - Power of Attorney (previously filed as Exhibit 24 to Form 4 dated November 12, 2014.)