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

(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)
03/29/2020

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
Common Stock	03/29/2020		M		9,668	A	(1)	25,059	D
Common Stock	03/29/2020		F		3,805(2)	D	$35.56	21,254	D

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)	03/29/2020		M			9,668	(3)	(3)	Common Stock	9,668	$0.00	19,334	D
Restricted Stock Units	(4)	03/30/2020		A		53,430		(4)	(4)	Common Stock	53,430	$0.00	53,430	D
Employee Stock Options (Right to Buy)	$35.56	03/30/2020		A		112,160		(5)	03/30/2030	Common Stock	112,160	$0.00	112,160	D

Explanation of Responses:

1. Reflects restricted stock units that upon vesting converted into shares of common stock on a one-for-one basis.

2. Reflects shares withheld to cover the Reporting Person's tax liability incident to the vesting of restricted stock units.

3. Each unit is the economic equivalent of one share of the Company's stock. The restricted stock units were granted on March 29, 2019 and will vest and settle in three equal installments on March 29, 2020, 2021 and 2022, subject to continued employment with the Company.

4. Each unit is the economic equivalent of one share of the Company's stock. The restricted stock units were granted on March 30, 2020 and will vest and settle in three equal installments on March 30, 2021, 2022 and 2023, subject to continued employment with the Company.

5. Non-qualified stock options granted on March 30, 2020 will vest 25% on March 30, 2021, and thereafter vest 6.25% quarterly over the next three years on the quarterly anniversary of the grant date, such that all shares will have vested on March 30, 2024, subject to continued employment with the Company.

Remarks:

	/s/ Jeffrey A. Fiarman, as Attorney-In-Fact for Rexford Tibbens	03/31/2020
	** 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.
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