Craig Aaron - 06 Feb 2024 Form 4 Insider Report for BORGWARNER INC (BWA)

Role
VP & Controller
Signature
Miyuki P. Oshima as attorney-in-fact for Craig Aaron
Issuer symbol
BWA
Transactions as of
06 Feb 2024
Net transactions value
+$228,319
Form type
4
Filing time
08 Feb 2024, 16:08:30 UTC
Previous filing
13 Jun 2023
Next filing
01 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BWA Common Stock Award $0 +19,930 +137% $0.000000 34,503 06 Feb 2024 Direct F1
transaction BWA Common Stock Award $228,319 +6,749 +20% $33.83 41,252 07 Feb 2024 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding BWA Phantom Stock 192 06 Feb 2024 Common Stock 192 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares will vest 50% on February 28, 2026 and 100% on February 28, 2027.
F2 Each performance share represented a contingent right to receive one share of BorgWarner common stock based upon the achievement of specified performance criteria related to relative revenue growth.
F3 Each phantom stock unit is the economic equivalent of one sare of BorgWarner Inc. common stock.
F4 The phantom stock units were acquired under the BorgWarner Inc. Excess Benefit Plan and are to be settled 100% in cash upon the reporting person's retirement or separataion from service.

Remarks:

In 2023, BorgWarner Inc. (the "Company") removed the Company stock fund as an investment option under its 401(k) plans. As a result, 2,254.0210 shares of the Company's common stock that the reporting person previously reported as beneficially owned were liquidated in a transaction exempt from Section 16 of the Securities Exchange Act of 1934.