SOBILOFF PETER 4
4 · Medidata Solutions, Inc. · Filed Jun 26, 2009
Insider Transaction Report
Form 4
SOBILOFF PETER
Director
Transactions
- Award
Common Stock
2009-06-24+3,571→ 3,571 total - Award
Stock Options (right to buy)
2009-06-24−5,910→ 5,910 totalExercise: $14.00Exp: 2009-06-24→ Common Stock (5,910 underlying)
Footnotes (4)
- [F1]On June 24, 2009, Peter Sobiloff was issued (i) 3,571 shares of restricted stock ("Restricted Stock") and (ii) 5,910 options to purchase the Issuer's Common Stock ("Options"). Peter Sobiloff is required to ultimately surrender or credit to Insight Venture Partners IV, L.P., Insight Venture Partners (Cayman) IV, L.P., Insight Venture Partners IV (Co?Investors), L.P. and Insight Venture Partners IV (Fund B), L.P. (collectively, the "Insight Partnerships") all compensation he receives from the Issuer, including all stock, stock options, restricted stock and other forms of stock-based awards, pro rata in accordance with such Insight Partnership's ownership of the Issuer's securities. Mr. Sobiloff therefore disclaims beneficial ownership of all such Restricted Stock and Options, except to the extent of his pecuniary interest therein.
- [F2]Insight Venture Associates IV, L.L.C. is the general partner of each of the Insight Partnerships. The managing member of Insight Venture Associates IV, L.L.C. is Insight Holdings Group, L.L.C. Insight Holdings Group, L.L.C. is managed by its board of managers. Jeffery Horing, Peter Sobiloff and Deven Parekh, the members of the board of managers of Insight Holdings Group, L.L.C., share the voting and investment power with respect to the shares held by the Insight Partnerships. Each of Messrs. Horing, Sobiloff and Parekh disclaim beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
- [F3]With respect to the shares of Restricted Stock, the restrictions lapse with respect to one-half of the shares on each of June 24, 2010 and June 24, 2011.
- [F4]These Options vest in 24 equal monthly installments commencing one month after the grant date, subject to the holder's continued board membership.