0001127602-16-064553.txt : 20161007
0001127602-16-064553.hdr.sgml : 20161007
20161007174036
ACCESSION NUMBER: 0001127602-16-064553
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20161005
FILED AS OF DATE: 20161007
DATE AS OF CHANGE: 20161007
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: EVERSOURCE ENERGY
CENTRAL INDEX KEY: 0000072741
STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911]
IRS NUMBER: 042147929
STATE OF INCORPORATION: MA
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 300 CADWELL DRIVE
CITY: SPRINGFIELD
STATE: MA
ZIP: 01104
BUSINESS PHONE: 8606655000
MAIL ADDRESS:
STREET 1: 107 SELDEN ST
CITY: BERLIN
STATE: CT
ZIP: 06037-1616
FORMER COMPANY:
FORMER CONFORMED NAME: NORTHEAST UTILITIES
DATE OF NAME CHANGE: 20041201
FORMER COMPANY:
FORMER CONFORMED NAME: NORTHEAST UTILITIES SYSTEM
DATE OF NAME CHANGE: 19961121
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: MAY THOMAS J
CENTRAL INDEX KEY: 0001101384
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-05324
FILM NUMBER: 161928781
MAIL ADDRESS:
STREET 1: C/O NORTHEAST UTILITIES
STREET 2: ONE FEDERAL STREET, BUILDING 111-4
CITY: SPRINGFIELD
STATE: MA
ZIP: 01105
4
1
form4.xml
PRIMARY DOCUMENT
X0306
4
2016-10-05
0000072741
EVERSOURCE ENERGY
ES
0001101384
MAY THOMAS J
C/O EVERSOURCE ENERGY
300 CADWELL DRIVE
SPRINGFIELD
MA
01104
1
Chrmn of the Board & Trustee
Common Shares, $5.00 par value
2016-10-05
4
M
0
883770
A
1201426
D
Common Shares, $5.00 par value
2016-10-05
4
F
0
321928
52.56
D
879498
D
Common Shares, $5.00 par value
70678
I
401k Plan
Phantom Shares
2016-10-05
4
M
0
883770
D
Common Shares, $5.00 par value
883770
52452
D
These shares constitute equity compensation earned by Mr. May as an executive employee over the period 1997 - 2005, the receipt of which was deferred by Mr. May pursuant to the registrant's non-qualified deferred compensation plan. This equity compensation has been disclosed in the registrant's proxy statements and reported on previously filed Forms 4. The shares are being distributed in accordance with the terms of the plan, which requires timely distribution and receipt at the beginning of the first quarter following retirement, except as required by IRS 409A regulations. This line discloses the acquisition by conversion of the previously reported deferred equity compensation, in the form of common share stock equivalents (phantom shares), which had a total cost to the registrant and value at award to Mr. May of approximately $7.5 million. The distribution of shares had no further impact on compensation expense to the registrant. The value of such shares has increased substantially through stock price appreciation that took place during the term of Mr. May's leadership and also through the accumulation of additional shares through dividend reinvestment. Each stock equivalent phantom share was settled for and represented the economic equivalent of one Eversource common share.
Includes the converted stock equivalent phantom shares noted in line 1, column 4, shares held in brokerage accounts, deferred shares awarded in July, 2016 as equity compensation for service as Chairman of the Board following Mr. May's retirement on June 30, 2016, and dividend equivalents thereon.
Withholding by the registrant of common shares to satisfy current Federal and state tax withholding applicable to the conversion and distribution of deferred stock equivalent phantom shares. Because the receipt of the shares was deferred, tax withholding obligations arise upon their receipt by Mr. May as actual common shares. No proceeds of the disposition of shares to satisfy tax withholding obligations will be paid to Mr. May.
Shares held in trust under the Eversource 401k Plan, a qualified plan, according to information supplied by the Plan's record keeper.
Represents the disposition by conversion of the same deferred stock equivalent phantom shares disclosed as acquired common shares in Table I. Each share represents the right to receive one Eversource common share upon a distribution event. Additional phantom shares are issued upon the automatic reinvestment of dividend-equivalents exempt from line item reporting under SEC Rule 16a-11.
/s/ Richard J Morrison, attorney-in-fact for Mr. May
2016-10-07