SULLIVAN JOSEPH A (Chairman, President & CEO) sold 48.0% of their position (648.18K shares) of LEGG MASON, INC. on the open market

Open‑market sale worth $32.40M — a major position exit. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 1 sale

SULLIVAN JOSEPH A

Filed: 6/12/2020ACC: 0000704051-20-000063

InsiderSULLIVAN JOSEPH ACIK 1206673

→

IssuerLEGG MASON, INC.CIK 704051

DirectorOfficer· Chairman, President & CEO

Since Jul 2018

-648.18K

Net shares

Net seller

$32.40M

Total sold

Open market trades

0B · 1S

Total transactions

757.86K acquired · 1.41M disposed

Non-Derivative Transactions6

Common Stock

Direct

M · Option Exercise

+149.46K

Price / share

$37.64

Trade value

$5.63M

% of position

25.2%

6/10/2020

592.96K→742.42K

Common Stock

Direct

M · Option Exercise

+211.74K

Price / share

$31.24

Trade value

$6.61M

% of position

28.5%

6/10/2020

742.42K→954.15K

Common Stock

Direct

M · Option Exercise

+149.29K

Price / share

$47.64

Trade value

$7.11M

% of position

15.6%

6/10/2020

954.15K→1.10M

Common Stock

Direct

M · Option Exercise

+44.52K

Price / share

$35.16

Trade value

$1.57M

% of position

4.0%

6/10/2020

1.10M→1.15M

Common Stock

Direct

M · Option Exercise

+202.86K

Price / share

$31.46

Trade value

$6.38M

% of position

17.7%

6/10/2020

1.15M→1.35M

Common Stock

Direct

S · Sale

−648.18K

Price / share

$49.98

Trade value

$32.40M

% of position

48.0%

6/10/2020

1.35M→702.65K

Total

Net shares

+109.69K

Net value

-$5.10M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	6/10/2020	M · Option Exercise	+149.46K	$37.64	$5.63M	25.2%	592.96K	742.42K
Common Stock Direct	6/10/2020	M · Option Exercise	+211.74K	$31.24	$6.61M	28.5%	742.42K	954.15K
Common Stock Direct	6/10/2020	M · Option Exercise	+149.29K	$47.64	$7.11M	15.6%	954.15K	1.10M
Common Stock Direct	6/10/2020	M · Option Exercise	+44.52K	$35.16	$1.57M	4.0%	1.10M	1.15M
Common Stock Direct	6/10/2020	M · Option Exercise	+202.86K	$31.46	$6.38M	17.7%	1.15M	1.35M
Common Stock Direct	6/10/2020	S · Sale	−648.18K	$49.98	$32.40M	48.0%	1.35M	702.65K
Total			+109.69K		-$5.10M

Derivative Transactions5

Stock Options (Right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

149.46K shares

−149.46K

Strike price

37.64

Held after

49.82K

Exercisable

—

6/10/2020

Stock Options (Right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

211.74K shares

−211.74K

Strike price

31.24

Held after

0.00

Exercisable

—

6/10/2020

Stock Options (Right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

149.29K shares

−149.29K

Strike price

47.64

Held after

336.00

Exercisable

—

6/10/2020

Stock Options (Right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

44.52K shares

−44.52K

Strike price

35.16

Held after

0.00

Exercisable

—

6/10/2020

Stock Options (Right to buy)

Direct

M · Option Exercise

Converts to

Common Stock

202.86K shares

−202.86K

Strike price

31.46

Held after

0.00

Exercisable

—

6/10/2020

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Stock Options (Right to buy) Direct	Common Stock149.46K shares	6/10/2020	M · Option Exercise	−149.46K	37.64	—	49.82K
Stock Options (Right to buy) Direct	Common Stock211.74K shares	6/10/2020	M · Option Exercise	−211.74K	31.24	—	0.00
Stock Options (Right to buy) Direct	Common Stock149.29K shares	6/10/2020	M · Option Exercise	−149.29K	47.64	—	336.00
Stock Options (Right to buy) Direct	Common Stock44.52K shares	6/10/2020	M · Option Exercise	−44.52K	35.16	—	0.00
Stock Options (Right to buy) Direct	Common Stock202.86K shares	6/10/2020	M · Option Exercise	−202.86K	31.46	—	0.00

Non-Derivative Holdings (Post-Transaction)1

Common Stock

Indirect

Shares owned6.66K

Total

6.66K indirect6.66K

Security Title	Shares Owned	Ownership Type
Common Stock	6.66K	Indirect
Total	6.66K	6.66K indirect

Derivative Holdings (Post-Transaction)0

No derivative holdings reported