MCMUNN WILLIAM H 4
4 · CONSOLIDATED TOMOKA LAND CO · Filed Aug 22, 2005
Insider Transaction Report
Form 4
MCMUNN WILLIAM H
DirectorChairman, President & CEO
Transactions
- Exercise/Conversion
Common Stock
2005-05-02$32.81/sh+8,000$262,512→ 42,492 total - Exercise/Conversion
Stock Appreciation Right
2005-05-02$32.81/sh−4,000$131,256→ 0 totalExercise: $32.81From: 2005-01-23Exp: 2012-01-23→ Common Stock (4,000 underlying) - Disposition to Issuer
Common Stock
2005-05-02$47.66/sh−8,000$381,320→ 42,492 total
Footnotes (2)
- [F1]This reflects the exercise of a stock appreciation right (SAR) in tandem with the exercise of a stock option on February 2, 2005, that was separately reported on a Form 4.
- [F2]The value of the SAR for Mr. McMunn was calculated as follows: (220,640/.65) - 220,640 (Appreciation/1 - Tax Rate) - Appreciation "Appreciation" equals the amount by which the fair market value of SAR's related shares at the time the related option is exercised exceeds the price paid for the share, and "Tax Rate" equals the optionee's tax rate as determined the IRS Tax Code at the time of exercise.