CONVERA CORP 4
4 · CONVERA CORP · Filed Jun 2, 2006
Insider Transaction Report
Form 4
CONVERA CORPCNVR
CONDO PATRICK C
DirectorPresident & CEO
Transactions
- Other
Deferred Stock Grant
2006-05-20−150,000→ 150,000 total→ Common Stock (150,000 underlying) - Award
Common Stock
2006-05-20+150,000→ 358,578 total - Tax Payment
Common Stock
2006-05-20−48,675→ 309,903 total
Footnotes (1)
- [F1]Pursuant to a deferred share agreement dated May 20, 2003, as amended on May 20, 2004, the Reporting Person was awarded a deferred share grant of 600,000 shares. 150,000 of the shares vest on each consecutive one-year anniversary of the grant date, beginning May 20, 2004, as long as the Reporting Person continues his employment, except that the shares vest earlier upon a termination without cause, death, disability or a change in control of the Issuer and will be subject to 18 months' additional vesting in the event he resigns for good reason. With respect to the vesting of 150,000 deferred shares on May 20, 2006, the Reporting Person exercised a right to have shares withheld by the Issuer to satisfy his tax obligations.