4//SEC Filing
Schmidt Karl 4
Accession 0000074818-13-000007
CIK 0000074818other
Filed
Jan 2, 7:00 PM ET
Accepted
Jan 3, 7:15 PM ET
Size
5.3 KB
Accession
0000074818-13-000007
Insider Transaction Report
Form 4
Schmidt Karl
Exec VP and COO-Behlman Elect.
Transactions
- Award
Common Stock, $.10 par value
2013-01-01+25,000→ 30,250 total
Footnotes (1)
- [F1]On January 1, 2013, the Issuer issued to the Reporting Person 25,000 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 odler at the time of retirement. The shares shall vest, provided the Reporting Person is still employed, over a seven year period as follows: (i) 3,500 shares on each January 1, commencing on January 1, 2014 and continuing through Janaury 1, 2019 and (ii) 4,000 shares on January 1, 2020.
Documents
Issuer
ORBIT INTERNATIONAL CORP
CIK 0000074818
Entity typeother
Related Parties
1- filerCIK 0001558635
Filing Metadata
- Form type
- 4
- Filed
- Jan 2, 7:00 PM ET
- Accepted
- Jan 3, 7:15 PM ET
- Size
- 5.3 KB