Calvin Scott Koonce - Dec 29, 2020 Form 5 Insider Report for VSE CORP (VSEC)

Role
Director, 10%+ Owner
Signature
/s/ Calvin S. Koonce
Stock symbol
VSEC
Transactions as of
Dec 29, 2020
Transactions value $
$0
Form type
5
Date filed
4/2/2024, 07:53 PM
Next filing
Apr 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VSEC Common Stock, par value $.05 Gift $0 -502K -50% $0.00 502K Nov 29, 2020 See footnote F2, F3, F4
holding VSEC Common Stock, par value $.05 1.34M Dec 29, 2020 Direct
holding VSEC Common Stock, par value $.05 20K Dec 29, 2020 See footnote F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Common Stock held by the Reporting Person's spouse. The Reporting Person disclaims beneficial ownership of any of the shares of Common Stock of the Issuer held by the Reporting Person's spouse, except to the extent of his pecuniary interest therein, if any.
F2 The reported transaction was three contemporaneous gifts by assignment of a 32 2/3% membership interest (for an aggregate of 98% membership interest) in Koonce LLC, a family limited liability company ("LLC"), to each of three trusts for the benefit of the Reporting Person's descendants effected solely for family investment planning purposes. Each gift was subject to a gift agreement limiting the fair market value ("FMV") of each gift to 1/3 of the then existing exclusion amount of the Reporting Person and his spouse under Section 2010(c)(3)(C) of the Internal Revenue Code of 1986, as amended. Determination of FMV was made by an independent valuation firm which determined that the percentage gifted to each trust was 31.52% of the LLC which approximated to an indirect pecuniary interest in 158,099 shares of Common Stock (for an approximate aggregate indirect pecuniary interest of 474,297 shares of Common Stock).
F3 Pursuant to General Instruction 4(b)(iv) of Form 5, the entire amount of the LLC's interest in the Common Stock of the Issuer is being reported. The Reporting Person disclaims beneficial ownership of any of the shares of Common Stock of the Issuer held by the LLC, except to the extent of his pecuniary interest therein, if any.
F4 Represents shares of Common Stock held by the LLC.