Marvin Russel H 4
4 · MECHANICAL TECHNOLOGY INC · Filed Jun 12, 2006
Insider Transaction Report
Form 4
Marvin Russel H
Other
Transactions
- Award
Stock Options (Right to Buy)
2006-06-09$3.19/sh+5,000$15,950→ 5,000 totalExercise: $3.19From: 2006-06-06Exp: 2016-06-08→ Common Stock (5,000 underlying)
Footnotes (1)
- [F1]On June 9, 2006, in connection with the operation of the employment agreement dated March 6, 2006 (the "Agreement") between Mr. Russel Marvin, Chief Operating Officer of MTI MicroFuel Cells Inc. and MTI MicroFuel Cells Inc. ("MTI Micro"), a majority-owned subsidiary of Mechanical Technology Incorporated ("MTI"), and Mr. Marvin's election under the Agreement related to compensation and equity parity with the Chief Executive Officer ("CEO") of MTI Micro, MTI granted Mr. Marvin additional options to purchase 5,000 shares of MTI common stock which vest in equal quarterly amounts over a four-year period at the rate of 6.25% per quarter, with the first vesting to occur three months from the date of the Agreement or June 6, 2006.