LEWIS WILLIAM L 4
4 · TODD SHIPYARDS CORP · Filed Sep 9, 2009
Insider Transaction Report
Form 4
LEWIS WILLIAM L
Director
Transactions
- Purchase
Todd Shipyards Corp. Common Stock
2009-09-08$16.13/sh+4,000$64,520→ 8,650 total
Holdings
- 2,000
Todd stock settled appreciation rights
Exercise: $16.98→ Common Stock (2,000 underlying)
Footnotes (3)
- [F1]Upon exercise of the SSARs, the holder is entitled to receive value equal to the number of rights being exercised times the then current fair market value reduced by $16.98, the fair market value on date of grant. Such value will be paid, net of withholding taxes, in shares of Todd Common Stock.
- [F2]One-third of the 2,000 SSARs vest each year on August 21 commencing in 2010 (through 2012).
- [F3]Upon certain termination events, but no later than August 21, 2014.