PROVIDENCE & WORCESTER RAILROAD CO/RI/ 4
4 · PROVIDENCE & WORCESTER RAILROAD CO/RI/ · Filed Jan 19, 2016
Insider Transaction Report
Form 4
CONTI P SCOTT
DirectorPresident
Transactions
- Award
Non-Qualified Stock Options (right to buy)
2016-01-18+8,000→ 8,000 totalExercise: $13.70From: 2017-01-18Exp: 2026-01-18→ Common Stock (8,000 underlying) - Award
Restricted Stock Unit
2016-01-18+12,000→ 12,000 totalExp: 2025-01-03→ Common Stock (12,000 underlying)
Footnotes (3)
- [F1]This non-qualified stock option grant becomes exercisable in five annual installments of 10% on January 18, 2017, 10% on January 18, 2018, 20% on January 18, 2019, 30% on January 18, 2020 and 30% on January 18, 2021.
- [F2]Each restricted stock unit represents the contingent right to receive one share of the Registrant's common stock upon vesting.
- [F3]The restricted stock units vest upon the annual achievement of reductions in certain operating expense ratios and in accordance with the following schedule: ten 10% on the first anniversary of the date of grant, 20% upon the second anniversary of the date of grant, 30% upon the third anniversary of the date of grant, and 30% upon the fourth anniversary of the date of grant subject to acceleration in the event of early achievement of the aforementioned reductions.