UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 5, 2012
MeadWestvaco Corporation
(Exact name of registrant as specified in its charter)
DELAWARE | 001-31215 | 31-1797999 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
501 South 5th Street, Richmond, Virginia 23219-0501
(Address of principal executive offices)
(804) 444-1000
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 | Other Events. |
A Senior Vice President of MeadWestvaco Corporation (the Company), Ms. Linda V. Schreiner, has established a Rule 10b5-1 trading plan (the Trading Plan) to sell Company stock acquired through her exercise of employee stock options that will expire May 24, 2012. Her individual Trading Plan is described below.
Ms. Schreiners Trading Plan provides for the sale of shares of Company stock that she may acquire upon exercise of employee stock options on 20,000 shares of Company stock for the purpose of covering the costs, taxes, fees and commissions that may be incurred upon the exercise of the employee stock options. The exercise price of those options is currently above the Companys stock price. Planned sales under her Trading Plan will commence no earlier than April 5, 2012, provided that the price of Company stock achieves specified levels. Her Trading Plan terminates on May 24, 2012, the date the employee stock options expire.
Ms. Schreiners Trading Plan covers the exercise of approximately 5% of her outstanding vested employee stock options. Ms. Schreiners Trading Plan will not impact her current holdings in Company stock, which is well above the Companys stock ownership guidelines for executives.
10b5-1 Plans Generally
The Trading Plan described above was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, and the Companys policies regarding transactions in its securities. Rule 10b5-1 permits individuals who are not in possession of material, non-public information at the time the plan is adopted to establish pre-arranged plans to buy or sell company stock. Once a plan is established, the individual retains no discretion over purchases or sales under the plan, and the transactions are executed through a broker on or after specified dates, whether or not the individual subsequently acquires material non-public information about the Company.
Any transactions under this Trading Plan will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission when due.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MEADWESTVACO CORPORATION | ||||||
By: | /s/ John J. Carrara | |||||
Date: March 6, 2012 | John J. Carrara | |||||
Assistant Secretary |