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KCG Kcg Holdings Class A

20.00
0.00 (0.00%)
Pre Market
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Kcg Holdings Class A NYSE:KCG NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 20.00 0 00:00:00

Statement of Changes in Beneficial Ownership (4)

20/07/2017 11:37pm

Edgar (US Regulatory)


FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Coleman Daniel
2. Issuer Name and Ticker or Trading Symbol

Virtu KCG Holdings LLC [ KCG ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Chief Executive Officer
(Last)          (First)          (Middle)

300 VESEY STREET
3. Date of Earliest Transaction (MM/DD/YYYY)

7/20/2017
(Street)

NEW YORK, NY 10282
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock, par value $0.01 per share   7/20/2017     D    1620694   D $20   (1) 0   D    
Restricted Stock Units   7/20/2017     D    217133   D $20   (2) 0   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Settled Stock Appreciation Rights   $22.5   7/20/2017     D         1700000      (3)   (3) Class A Common Stock, par value $0.01 per share   1700000     (4) 0   D    
Stock Options   $11.65   7/20/2017     D         1700000      (5)   (5) Class A Common Stock, par value $0.01 per share   3700000     (6) 0   D    
Stock Options   $23.35   7/20/2017     D         2000000      (7)   (7) Class A Common Stock, par value $0.01 per share   3700000     (6) 0   D    
Class B Warrants   $13.16   7/20/2017     D         53711      (8)   (8) Class A Common Stock, par value $0.01 per share   53711     (9) 0   D    
Class C Warrants   $14.63   7/20/2017     D         53710      (10)   (10) Class A Common Stock, par value $0.01 per share   53710     (9) 0   D    

Explanation of Responses:
(1)  Pursuant to the Agreement and Plan of Merger, dated as of April 20, 2017, by and among Virtu Financial, Inc., a Delaware corporation ("Virtu"), Orchestra Merger Sub, Inc., a Delaware corporation ("Merger Sub") and a wholly owned subsidiary of Virtu, and Virtu KCG Holdings LLC, a Delaware limited liability company (formerly known as KCG Holdings, Inc., a Delaware corporation) (the "Company"), at the effective time of the merger (the "Effective Time") of Merger Sub with and into the Company, with the Company as the surviving entity and a wholly owned subsidiary of Virtu, each share of the Company's Class A common stock, par value $0.01 per share (the "Class A Common Stock"), owned by the reporting person was converted into the right to receive $20.00 in cash without interest (the "Merger Consideration").
(2)  Pursuant to the Merger Agreement, at the Effective Time, each outstanding restricted stock unit ("RSU") granted by the Company was cancelled and converted automatically into the right to receive an amount in cash equal to the product of (i) the number of shares of Class A Common Stock subject to such RSU immediately prior to the Effective Time and (ii) the Merger Consideration of $20.00 per share. Accordingly, 217,133 RSUs granted to the reporting person on February 3, 2016 under the Company's stock plan, approximately 50% of which would have vested into Class A Common Stock on each of February 3, 2018 and February 3, 2019, were cancelled in connection with the Merger in exchange for a cash payment pursuant to the Merger Agreement.
(3)  1,700,000 stock settled stock appreciation rights (each, a "SAR") granted on July 5, 2013 under the Company's stock plan, which vested approximately 33.3% on each of July 5, 2014, July 5, 2015 and July 5, 2016, were cancelled for no consideration in connection with the Merger.
(4)  Pursuant to the Merger Agreement, at the Effective Time, each outstanding SAR granted by the Company was cancelled and converted automatically into the right to receive an amount in cash equal to the product of (i) the number of shares of Class A Common Stock subject to such SAR immediately prior to the Effective Time and (ii) the excess, if any, of the Merger Consideration of $20.00 per share over the exercise price per share of such SAR. Because all SARs outstanding prior to the Effective Time had an exercise price per share that was greater than or equal to the merger consideration of $20.00 per share, all SARs were cancelled at the Effective Time for no consideration or payment.
(5)  1,700,000 options to purchase shares of Class A Company Stock (each, a "Stock Option") granted on July 5, 2013 under the Company's stock plan, which vested approximately 33.3% on each of July 5, 2014, July 5, 2015 and July 5, 2016, were cancelled in connection with the Merger in exchange for a cash payment pursuant to the Merger Agreement.
(6)  Pursuant to the Merger Agreement, at the Effective Time, each outstanding Stock Option granted by the Company was cancelled and converted automatically into the right to receive an amount in cash equal to the product of (i) the number of shares of Class A Common Stock subject to such Stock Option immediately prior to the Effective Time and (ii) the excess, if any, of the Merger Consideration of $20.00 per share over the exercise price per share of such Stock Option.
(7)  2,000,000 Stock Options granted on April 21, 2016 under the Company's stock plan, approximately 33.3% of which vested on December 31, 2016, and approximately 33.3% of which would have vested on each of December 31, 2017 and December 31, 2018, were cancelled for no consideration in connection with the Merger.
(8)  53,711 Class B warrants to purchase shares of Class A Company Stock for a purchase price per share of $13.16 (each, a "Class B Warrant", and collectively with all Class C Warrants, as defined below, "Warrants") were converted in connection with the Merger into the right to receive a cash payment pursuant to the Merger Agreement.
(9)  Pursuant to the Merger Agreement, at the Effective Time, each outstanding Warrant converted automatically into the right to receive an amount in cash equal to the product of (i) the total number of shares of Class A Common Stock subject to such Warrant and (ii) the excess, if any, of the Merger Consideration of $20.00 per share over the then-current exercise price per share of Class A Common Stock (without giving effect to any of the transactions contemplated by the Merger Agreement) previously subject to such Warrant.
(10)  53,710 Class C warrants to purchase shares of Class A Company Stock for a purchase price per share of $14.63 (each, a "Class C Warrant") were converted in connection with the Merger in exchange for cash payment pursuant to the Merger Agreement.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Coleman Daniel
300 VESEY STREET
NEW YORK, NY 10282
X
Chief Executive Officer

Signatures
/s/ Robert McQueen as Attorney-in-Fact for Daniel Coleman 7/20/2017
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

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