MEMC ELECTRONIC MATERIALS INC 4
4 · MEMC ELECTRONIC MATERIALS INC · Filed Jan 27, 2009
Insider Transaction Report
Form 4
CHELES MICHAEL
VP IT & CIO
Transactions
- Exercise/Conversion
Common Stock
2009-01-24+1,500→ 4,862 total - Exercise/Conversion
Restricted Stock Units
2009-01-24−1,500→ 3,000 totalExercise: $0.00→ Common Stock (1,500 underlying)
Footnotes (2)
- [F1]Price is not applicable to acquisitions resulting from conversion of restricted stock units.
- [F2]On January 24, 2007, 6,000 restricted stock units were awarded under the MEMC 2001 Equity Incentive Plan in a transaction exempt under Rule 16b-3. Each restricted stock unit represents a contingent right to receive one share of MEMC common stock. Of these 6,000 restricted stock units, up to 3,000 were subject to forfeiture depending on pre-established company earnings targets for 2007. On January 23, 2008, the Committee determined that the earnings targets had been met, and that none of the 3,000 restricted stock units subject to forfeiture would be forfeited. Pursuant to the vesting schedule established on the date of the award, 1,500 units (25%) vested on January 24, 2008 and 1,500 units (25%) vested on January 24, 2009. The remaining restricted stock units vest in 25% increments on January 24, 2010 and January 24, 2011.