Black Steven M. 4
4 · LPL Investment Holdings Inc. · Filed Mar 23, 2009
Insider Transaction Report
Form 4
Black Steven M.
Mng Dir., Chief Risk Officer
Transactions
- Other
Stock Options
2008-12-31−434,200→ 0 totalExercise: $1.07From: 2004-12-14Exp: 2009-12-14→ Common Stock (434,200 underlying) - Other
Restricted Stock Units
2008-12-31+408,446→ 408,446 total→ Common Stock (408,446 underlying)
Footnotes (3)
- [F1]The 2008 Deferred Compensation Plan allowed employees of the Issuer and its subsidiaries that held existing stock options issued under the 1999 Option Plans that would expire in 2009 or 2010 to re-classify their holdings as restricted stock units that are paid out at a later date in the form of shares of Issuer's common stock. Participating employees were awarded that number of stock units that is equal to the aggregate fair market value of the shares subject to the option at December 31, 2008 less the aggregate strike price of the options and divided by the price per share of the Issuer's stock at December 31, 2008.
- [F2]Each stock unit is a bookkeeping entry of which one stock unit is the economic equivalent of one share of Issuer's common stock.
- [F3]Restricted Stock Units are fully vested, except that accounts are forfeited if the holder is terminated for cause. Distribution of units occurs at the earliest to occur of death, disability, change in control (as defined in the 2008 Deferred Compensation Plan) or a date in 2012 to be determined by the Issuer. Settlement is made within 90 days of the distribution event (or, with respect to the settlement in 2012, by the end of the calendar year).