Morgans Hotel Group Co. 4
4 · Morgans Hotel Group Co. · Filed Dec 1, 2015
Insider Transaction Report
Form 4
Olshan Michael E
Director10% Owner
Transactions
- Award
Common Stock
2015-11-27+16,387→ 16,387 total
Holdings
- 4,500,000(indirect: See footnote)
Common Stock
Footnotes (2)
- [F1]Represents restricted stock units issued to the reporting person as an annual retainer fee pursuant to the Company's Director Compensation Policy, which has previously been approved by the Company's Board of Directors. The restricted stock units are subject to the terms and conditions of the Morgans Hotel Group Co. Amended and Restated 2007 Omnibus Incentive Plan, as amended, and vest on May 13, 2016, unless, in certain circumstances, the reporting person departs the Company prior to such date, in which case the restricted stock units will vest pro rata on the date of such departure.
- [F2]OTK Associates, LLC ("OTK") is the beneficial owner of 4,500,000 shares of common stock in Morgans Hotel Group Co. Mr. Olshan, who is a manager of OTK, has shared voting and dispositive power over such reported securities. Mr. Olshan disclaims beneficial ownership of the 4,500,000 shares of common stock beneficially owned by OTK, except to the extent of his pecuniary interest therein.