MEDLEY MANAGEMENT INC. 4
4 · MEDLEY MANAGEMENT INC. · Filed Feb 24, 2017
Insider Transaction Report
Form 4
Fredericks John D.
General Counsel
Transactions
- Disposition to Issuer
Restricted Stock Units
2017-02-22−50,000→ 0 total→ Common Stock (50,000 underlying) - Award
Medley LLC Units
2017-02-22+50,000→ 353,030 total→ Common Stock (50,000 underlying) - Award
Medley LLC Units
2017-02-22+50,000→ 403,030 total→ Common Stock (50,000 underlying)
Footnotes (4)
- [F1]Reporting Person is an existing member and holds Class A Units of Medley LLC ("Medley LLC Units"). Issuer cancelled 50,000 unvested Restricted Stock Units ("RSUs") of Issuer, and in return, Reporting Person was granted 50,000 restricted Medley LLC Units. The RSUs were granted to Reporting Person on March 16, 2016, in connection with Reporting Person's services and, upon vesting, each RSU was payable in one share of Class A Common Stock, $0.01 par value per share of the Issuer (the "Common Stock"), or the cash equivalent thereof.
- [F2]Pursuant to the Exchange Agreement dated September 23, 2014, among Issuer, Medley LLC and the holders of Medley LLC Units (the "Exchange Agreement"), each vested Medley LLC Unit may be exchanged for one share of Common Stock. The 50,000 restricted Medley LLC Units granted to Reporting Person are subject to the same vesting conditions and similar transfer restrictions as the original, now cancelled 50,000 RSUs.
- [F3]These restricted Medley LLC Units vest annually in three equal installments commencing March 16, 2019.
- [F4]In connection with Reporting Person's services, on February 22, 2017, Reporting Person was granted 50,000 restricted Medley LLC Units. Pursuant to the Exchange Agreement, each vested Medley LLC Unit may be exchanged for one share of Common Stock. The restricted Medley LLC Units vest annually in three equal installments commencing February 22, 2020.