CONSOLIDATED TOMOKA LAND CO 4
4 · CONSOLIDATED TOMOKA LAND CO · Filed Mar 26, 2007
Insider Transaction Report
Form 4
APGAR ROBERT F
Sr. Vice President
Transactions
- Exercise/Conversion
Common Stock
2007-03-06$56.76/sh+7,600$431,406→ 5,050 total - Disposition to Issuer
Common Stock
2007-03-06$79.53/sh−7,600$604,428→ 5,050 total - Exercise/Conversion
Stock Appreciation Right
2007-03-06$56.76/sh−1,600$90,822→ 0 totalExercise: $56.76From: 2007-01-22Exp: 2013-01-22→ Common Stock (1,600 underlying) - Exercise/Conversion
Stock Appreciation Right
2007-03-06$56.76/sh−1,200$68,117→ 0 totalExercise: $56.76From: 2007-01-23Exp: 2012-01-23→ Common Stock (1,200 underlying)
Footnotes (2)
- [F1]This reflects the exercise of a stock appreciation right (SAR) in tandem with the exercise of a stock option on February 16, 2007, that was separately reported on a Form 4.
- [F2]The value of the SAR for Mr. Apgar was calculated as follows: (321,328/.65) - 321,328 = 173,023 (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 by the IRS Tax Code at the time of exercise.