4//SEC Filing
BINDER MITCHELL 4
Accession 0000074818-13-000002
CIK 0000074818other
Filed
Jan 2, 7:00 PM ET
Accepted
Jan 3, 6:03 PM ET
Size
5.3 KB
Accession
0000074818-13-000002
Insider Transaction Report
Form 4
BINDER MITCHELL
DirectorExecutive VP and CFO
Transactions
- Award
Common Stock, $.10 par value
2013-01-01+40,000→ 158,701 total
Footnotes (1)
- [F1]On January 1, 2013, the Issuer issued to the Reporting Person 40,000 shares of restricted stock valued at $3.23 per share. These shares are subject to forfeiture and acceleration in vesting for death, permanent disability and change in control. In addition, fifty percent of any unvested shares of the Reporting Person shall accelerate in vesting immediately upon retirement of such Reporting Person, provided such Reporting Person is age 73 or older at the time of retirement. The shares shall vest, provided the Reporting Person is still employed, over a seven year period as follows: (i) 5,600 shares on each January 1, commencing on January 1, 2014 and continuing through January 1, 2019 and (ii) 6,400 shares on January 1, 2020.
Documents
Issuer
ORBIT INTERNATIONAL CORP
CIK 0000074818
Entity typeother
IncorporatedNY
Related Parties
1- filerCIK 0001052816
Filing Metadata
- Form type
- 4
- Filed
- Jan 2, 7:00 PM ET
- Accepted
- Jan 3, 6:03 PM ET
- Size
- 5.3 KB