MORRIS TIMOTHY S 4
4 · BioFuel Energy Corp. · Filed Jun 21, 2007
Insider Transaction Report
Form 4
MORRIS TIMOTHY S
Vice President - Operations
Transactions
- Award
Common stock, par value $0.01 per share
2007-06-19+11,765→ 11,765 total - Award
Option to Buy
2007-06-19+40,000→ 40,000 totalExercise: $10.50→ Common Stock, par value $0.01 per share (40,000 underlying)
Footnotes (3)
- [F1]Consists of 11,765 shares of restricted common stock of BioFuel Energy Corp. (the "Company") granted to Mr. Morris pursuant to the Company's 2007 Equity Incentive Compensation Plan that will vest in equal increments of 25% per year on the first four anniversaries of the date of the grant. In addition, Mr. Morris holds 12,359 shares of Class B Common Stock, par value $0.01 per share, of the Company and 12,359 LLC membership units of BioFuel Energy, LLC which may be exchanged at any time for common stock of the Company on a one-for-one basis.
- [F2]Stock options were granted to Mr. Morris pursuant to Company's 2007 Equity Incentive Compensation Plan and will vest with respect to 30%, 30% and 40% of the shares of common stock on each of the first three anniversaries of the grant date.
- [F3]Each option will expire upon the earlier of (i) the fifth anniversary of the date the option is granted and (ii) either (x) 90 days after the participant who is holding the option ceases to be a Director, officer or employee of the Company or one of its affiliates for any reason other than the participant's death or (y) six months after the date the participant who is holding the option ceases to be a Director, officer or employee of the Company or one of its affiliates by reason of the participant's death.