Castleman Michael S 4
4 · CDI CORP · Filed Sep 14, 2017
Insider Transaction Report
Form 4
CDI CORPCDI
Castleman Michael S
Executive Vice President
Transactions
- Disposition to Issuer
Time-Vested Deferred Stock (TVDS)
2017-09-12−43,750→ 43,750 totalExp: 2020-10-01→ Common Stock (43,750 underlying) - Disposition from Tender
Common Stock
2017-09-12$8.25/sh−28,280$233,310→ 0 total
Footnotes (1)
- [F1]Under the TVDS Award Agreement, the general vesting schedule for these shares is: 20% on October 1, 2017, 30% on each of October 1, 2018 and October 1, 2019, and 20% on October 1, 2020. However, pursuant to the Award Agreement, upon the closing of a Sale of the Company, which occurred on September 12, 2017, the first two tranches became vested. Under the terms of the Award Agreement and the merger agreement associated with the Sale of the Company, the Reporting Person receives cash (equal to the sale price of $8.25 per share) rather than shares of Common Stock upon the vesting of these shares of TVDS.