SWIFT BRUCE R 4
4 · METALDYNE CORP · Filed Jan 20, 2004
Insider Transaction Report
Form 4
METALDYNE CORPNONE
SWIFT BRUCE R
President, Driveline Group
Transactions
- Disposition to Issuer
Stock Option
2004-01-15−153,075→ 0 totalExercise: $16.90Exp: 2013-11-06→ Common Stock (153,075 underlying)
Footnotes (2)
- [F1]On January 15, 2004, pursuant to a voluntary stock option exchange program, the Company cancelled all options previously granted to the reporting person. In exchange, subject to continuing eligibility, the reporting person received: 1) the right to receive, on July 16, 2004, new options for shares equal to 95% of the shares underlying the cancelled options, with an exercise price equal to the fair market value of the Company's common stock on that date, subject to vesting 40% on that date and 30% annually thereafter and otherwise substantially similar to the cancelled options; and 2) one restricted stock unit ("RSU") for every 40 shares underlying cancelled options, with each RSU representing the right to receive: a) one share of stock on August 15, 2004, subject to optional deferral, and b) a vested reload option exercisable for 90 days in the event a Change in Control occurs on or before July 15, 2004.
- [F2]The canceled option provided for vesting in five annual installments beginning on August 1, 2004.