Tibbens Rexford Form 4 frontdoor / Rexford Tibbens ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Tibbens Rexford

(Last) (First) (Middle)

150 PEABODY PLACE

(Street)

MEMPHIS TN 38103-3720

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
frontdoor, inc. [ FTDR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2018

4. If Amendment, Date of Original Filed (Month/Day/Year)

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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: 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
Restricted Stock Units	(1)	10/01/2018		A		26,191(2)		(1)	(1)	Common Stock	26,191(2)	(1)	26,191(2)	D
Restricted Stock Units	(3)	10/01/2018		A		16,369(2)		(3)	(3)	Common Stock	16,369(2)	(3)	16,369(2)	D
Employee Stock Options (Right to Buy)	$38.19(4)	10/01/2018		A		54,452(2)		(4)	(4)	Common Stock	54,452(2)	(4)	54,452(2)	D
Employee Stock Options (Right to Buy)	$38.19(5)	10/01/2018		A		87,122(2)		(5)	(5)	Common Stock	87,122(2)	(5)	87,122(2)	D

Explanation of Responses:

1. Each unit is the economic equivalent of one share of frontdoor, inc. (the "Company") common stock. The restricted stock units were granted May 15, 2018 by ServiceMaster Global Holdings, Inc. ("ServiceMaster") and converted into restricted stock units of the Company in connection with the Company's spin-off from ServiceMaster (the "Spin-off"). These restricted stock units become vested and settled in three equal installments on May 15, 2019, 2020 and 2021, subject to continued employment with the Company.

2. The number of restricted stock units, stock options and the exercise price for the stock options were all adjusted in connection with the Spin-off based on the closing price of ServiceMaster's stock on September 28, 2018 and the opening price of Company stock on October 1, 2018.

3. Each unit is the economic equivalent of one share of the Company's common stock. The restricted stock units were granted May 15, 2018 by ServiceMaster and converted into restricted stock units of the Company in connection with the Spin-off. These restricted stock units become vested and settled in three equal installments on February 18, 2019, 2020 and 2021, subject to continued employment with the Company.

4. The stock options were granted on May 15, 2018 by ServiceMaster and converted into stock options of the Company in connection with the Spin-off, and vest and become exercisable in four equal annual installments on February 18, 2019, 2020, 2021 and 2022, subject to continued employment.

5. The stock options were granted on May 15, 2018 by ServiceMaster and converted into stock options of the Company in connection with the Spin-off, and vest and become exercisable in four equal annual installments on May 15, 2019, 2020, 2021 and 2022, subject to continued employment.

	/s/ Jeffrey Fiarman, Attorney-In-Fact for Rexford J. Tibbens	10/03/2018
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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