NATIONAL SECURITY GROUP INC 4
4 · NATIONAL SECURITY GROUP INC · Filed Sep 12, 2005
Insider Transaction Report
Form 4
BRUNSON J R
Director
Transactions
- Purchase
Common Stock
2005-09-09$18.61/sh+2,300$42,803→ 200,410 total - Purchase
Common Stock
2005-09-12$19.05/sh+889$16,935→ 201,299 total
Holdings
- 13,277
Phantom Stock Units
→ Common Stock (13,277 underlying)
Footnotes (2)
- [F1]The phantom stock units were awarded under the nonqualified deferred compensation plan in which directors could elect to defer their directors' fees by recieving phantom stock units payable in cash upon separation from service from the board. The plan was frozen on 12/31/2004. It is anticipated that a new nonqualified plan will be adopted during 2005. Until a new plan is adopted all directors' fees will be paid in cash.
- [F2]Upon separation from service the Board, phantom stock units will be settled in cash at the then current market price of common stock.