CHURCH DALE W 4
4 · MECHANICAL TECHNOLOGY INC · Filed Jan 3, 2006
Insider Transaction Report
Form 4
CHURCH DALE W
DirectorPresident of Govt Systems
Transactions
- Award
Stock Options (Right to Buy)
2005-12-30$2.80/sh+23,333$65,332→ 23,333 totalExercise: $2.80From: 2005-12-30Exp: 2013-03-31→ Common Stock (23,333 underlying) - Award
Stock Options (Right to Buy)
2005-12-30$2.80/sh+12,500$35,000→ 12,500 totalExercise: $2.80From: 2005-12-30Exp: 2012-10-21→ Common Stock (12,500 underlying)
Footnotes (3)
- [F1]Represents options issued in exchange for MTI Micro options tendered and canceled pursuant to the MTI and MTI Micro November 28, 2005 Exchange Offer. The exchange rate is one (1) MTI option for each two (2) shares of MTI Micro common stock issuable upon exercise of surrendered MTI Micro options, rounded down to the nearest whole share, or if an individual had an MTI Micro option balance in excess of 150,000, then at a rate of one (1) MTI option for each four (4) shares of MTI Micro common stock issuable upon exercise of surrendered MTI Micro options in excess of 150,000. All options were issued with the same vesting schedule and expiration term as the originally issued MTI Micro options.
- [F2]Immediately Vested.
- [F3]6,250 are immediately vested and the remainder vests 50% on 09/15/06 and 09/15/07, respectively.