HARADA CURTIS Y 4
4 · HAWAIIAN ELECTRIC INDUSTRIES INC · Filed Mar 4, 2009
Insider Transaction Report
Form 4
HARADA CURTIS Y
VP Controller & Chief Accting
Transactions
- Award
Dividend Equivalents
2009-03-02+227.273→ 227.273 totalFrom: 2009-04-07Exp: 2015-04-07→ Common Stock (227.273 underlying) - Exercise/Conversion
Common Stock
2009-03-02+126→ 7,197 total - Exercise/Conversion
Dividend Equivalents
2009-03-02−126→ 0 totalFrom: 2009-03-02Exp: 2009-03-15→ Common Stock (126 underlying)
Holdings
- 7,602.686(indirect: By 401(k))
Common Stock
Footnotes (4)
- [F1]Settlement of dividend equivalents (DEs) in compliance with Section 409A of the Internal Revenue Code, as amended. The DEs related to stock appreciation rights granted in 2004 and 2005 were accrued when and as dividends were paid on HEI Common Stock. Each dividend equivalent is the economic equivalent of one share of HEI Common Stock. $6.90 was also paid to the holder to settle a fractional divident equivalent share 0.5062, as provided in the grant agreement.
- [F2]Previously reported shares.
- [F3]Shares held pursuant to the Hawaiian Electric Industries Retirement Savings Plan 401(k) (HEIRS) as of February 20, 2009. Effective 4/1/96 the participant's investment in HEI Common Stock was converted to units in the HEI Common Stock Fund portion of HEIRS. A small portion of the fund is held in cash; the overall value is based on the combined value of the HEI Common Stock and the cash portfolio. For SEC reporting purposes only the actual stock portion of the fund is being reported.
- [F4]The dividend equivalents accrued on 50,000 stock appreciation rights granted in 2005. Each dividend equivalent is the economic equivalent of one share of HEI Common Stock.