4//SEC Filing
SCHNEIDER LAWRENCE I 4
Accession 0001046211-04-000076
CIK 0000351917other
Filed
Sep 26, 8:00 PM ET
Accepted
Sep 27, 10:21 AM ET
Size
7.5 KB
Accession
0001046211-04-000076
Insider Transaction Report
Form 4
U S ENERGY SYSTEMS INC(USEY)
SCHNEIDER LAWRENCE I
DirectorChairman of the Board10% Owner
Transactions
- Award
Restricted Stock Units
2004-09-24+434,783→ 434,783 total→ Common Stock (434,783 underlying)
Footnotes (4)
- [F1]Each restricted stock unit represents a contingent right to receive one share of U.S. Energy common stock and also entitles the holder to receive dividends (payable in restricted stock units) to the extent cash dividends are paid on the Issuer's common stock.
- [F2]The transaction date reflects the date the restricted stock unit award agreement was signed by all parties thereto.
- [F3]The restricted stock units vest in four equal annual installments, subject to acceleration upon a Change in Control or termination of the employment relationship (other than the voluntary termination of employment by the reporting person or the reporting person's termination for Cause, in which case, the restricted stock units are forfeited , to the extent they have not vested) beginning on or about the first anniversary of the transaction date reflected above. Vested shares will be delivered to the reporting person on the earlier to occur of a date selected by the reporting person (i.e. generally to the extent their allotment of restricted stock units has vested in full), their death, disability, termination of employment with the Issuer and its subsidiaries, the passage of time and a Change in Control. Capitalized terms used without being defined herein shall have the meanings to such term by the 2000 Executive Incentive Compensation Plan.
- [F4]No consideration was paid for the award reported hereby. The number of restricted stock units granted was related to a cash bonus which the reporting person was awarded.
Documents
Issuer
U S ENERGY SYSTEMS INC
CIK 0000351917
Entity typeother
Related Parties
1- filerCIK 0000908267
Filing Metadata
- Form type
- 4
- Filed
- Sep 26, 8:00 PM ET
- Accepted
- Sep 27, 10:21 AM ET
- Size
- 7.5 KB