Belo Corp - Statement of Changes in Beneficial Ownership (4)
February 15 2008 - 2:22PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
KERR GUY H
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2. Issuer Name
and
Ticker or Trading Symbol
BELO CORP
[
BLC
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director
_____ 10% Owner
__
X
__ Officer (give title below)
_____ Other (specify below)
EVP/Govt & Law and Secretary
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(Last)
(First)
(Middle)
BELO CORP., P.O. BOX 655237
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3. Date of Earliest Transaction
(MM/DD/YYYY)
2/13/2008
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(Street)
DALLAS, TX 75265-5237
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Series A Common Stock
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2/13/2008
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M
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3487
(1)
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A
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(2)
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6979
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D
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Series A Common Stock
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2/13/2008
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S
(3)
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1395
(3)
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D
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$13.64
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5584
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D
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Series A Common Stock
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800
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I
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Custodial Accounts
(4)
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Series A Common Stock
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1720
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I
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401(k) Account
(5)
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Restricted Stock Units (Performance-Related)
(6)
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(2)
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2/13/2008
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M
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3487
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(7)
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(7)
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Series A Common Stock
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3487
(2)
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$0
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3487
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D
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Explanation of Responses:
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(
1)
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The number of shares shown represents the portion of the December 2005 performance-related restricted stock units (PBRSUs) that vested and were paid on February 13, 2008. These PBRSUs were awarded in December 2005, as described below in footnote 6.
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(
2)
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Each restricted stock unit represents a contingent right to receive the value of one share of Belo Series A Common Stock. RSUs are valued as of the date of vesting and are paid 60% in shares of Belo Series A Common Stock and 40% in cash.
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(
3)
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The number of shares shown represents settlement of the 40% cash portion of PBRSUs that vested and were paid on February 13, 2008. Settlement of the cash portion is, pursuant to SEC guidance, deemed to be a sale of shares to the Company.
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(
4)
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The reporting person holds 400 shares on behalf of each of his two minor children under the Texas Uniform Transfer to Minors Act. The reporting person disclaims beneficial ownership of these securities.
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(
5)
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Held by the Belo Savings Plan as of January 31, 2008.
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(
6)
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These PBRSUs were awarded in December 2005. The actual number of PBRSUs earned was determined on February 27, 2007.
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(
7)
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One-third of the original PBRSU award vests and is paid out as soon as practicable following each annual earnings release date for the fiscal years ending December 31, 2006, 2007 and 2008. Earned PBRSUs not yet paid are subject to additional vesting requirements that depend on the continued employment of the reporting person with the Company.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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KERR GUY H
BELO CORP.
P.O. BOX 655237
DALLAS, TX 75265-5237
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EVP/Govt & Law and Secretary
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Signatures
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Kay F. Stockler, Attorney-In-Fact
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2/14/2008
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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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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