UNITED BANCORP INC /MI/ 4
4 · UNITED BANCORP INC /MI/ · Filed May 31, 2007
Insider Transaction Report
Form 4
UNITED BANCORP INC /MI/UBMI.OB
CHADDERDON DALE L
EVP & CFO, Secretary & Treas.
Transactions
- Award
Common Stock $0.00 Par
2007-05-31+14,591→ 29,182 total - Award
Common Stock $0.00 Par
2007-05-31+2,666→ 5,332 total - Award
Common Stock $0.00 Par
2007-05-31+1,028→ 2,056 total - Award
Deferred Stock Units
2007-05-31+361.601→ 723.202 total→ Common Stock (361.601 underlying)
Footnotes (1)
- [F1]The reporting person has received an exempt award of deferred stock units under United Bancorp's Senior Management Bonus Deferral Stock Plan. Under the Plan, a senior officer may elect to defer payment of all or a portion of his future cash bonus in an amount no greater than the maximum amount of retainer fees which a director could defer for the same calendar year under the United Bancorp, Inc. Director Retainer Stock Plan by electing to receive in lieu of such bonus deferred stock units. The amount of deferred stock units is equal to the amount of the bonus the senior officer has elected to defer, divided by the market price of the common stock of United Bancorp on the date such bonus amount would otherwise have been paid. The deferred stock units are awarded on the date such bonus would otherwise have been paid and are immediately vested. Each deferred stock unit is the economic equivalent of one share of common stock.