WESTMORELAND COAL CO 4

4 · WESTMORELAND COAL CO · Filed Aug 5, 2003

Form 4

Period: 2003-08-05

VP-General Counsel & Secretary

Transactions

Exercise/Conversion
Performance Units
2003-08-05−2,717→ 0 total
Exercise: $2.91From: 2003-07-01Exp: 2003-08-05→ Common Stock (2,717 underlying)
Disposition to Issuer
Performance Units
2003-08-05$14.72/sh−4,890$71,999→ 0 total
Exercise: $2.91From: 2003-07-01Exp: 2003-08-05→ Common Stock (4,890 underlying)
Exercise/Conversion
Performance Units
2003-08-05−38,700→ 0 total
Exercise: $2.91From: 2003-07-01Exp: 2003-08-05→ Common Stock (38,700 underlying)
Exercise/Conversion
Common Stock - $2.50 par value
2003-08-05+2,213→ 23,613 total

Holdings

Footnotes (4)

[F1]Shares held in 401(k) plan as of June 30, 2003, including 723 shares acquired at various prices from Dec. 31, 2001 to June 30, 2003.
[F2]The performance units were settled on August 5, 2003. The value of each unit was $14.72375, reflecting the excess of the specified settlement price ($17.6335) over the base price ($2.90975). Of the total value of the units, (i) 82.4% was deferred for up to five years and may be paid at the discretion of the issuer from time to time in cash, stock or any combination thereof, and 1.173% was elected by Mr. Lepchitz to be deferred for a period of five years, (ii) 5.87% was settled in common stock (2,213 shares valued at $18.08, the average of the high and low reported sales prices on June 30, 2003), and (iii) 11.73% was settled in cash.
[F3]Right to receive cash or stock at the option of issuer; similar to a Stock Appreciation Right.
[F4]Date is for electronic form purposes only. Expiration date is not applicable.

Documents

1 file