CLINE ROBERT S 4
4 · SAFECO CORP · Filed Apr 27, 2005
Insider Transaction Report
Form 4
SAFECO CORPSAFC
CLINE ROBERT S
Director
Transactions
- Award
Phantom Stock Units
2005-04-25$32.04/sh+0.253$8→ 59.533 total→ Common Stock (0.253 underlying)
Footnotes (2)
- [F1]These Phantom Stock Units may be converted to shares of Safeco stock as follows: The number of Phantom Stock Units acquired multiplied by the price of Phantom Stock Units on the transaction date divided by the closing price of Safeco stock on the transaction date.
- [F2]These Phantom Stock Units accrued under the Safeco Corporation Deferred Compensation Plan for Directors (the "Plan") from dividends received on restricted stock rights held by the reporting person and will be settled in cash following termination of the reporting person's service as a director of Safeco Corporation or may be reallocated to another investment option pursuant to the terms of the Plan.