Sadek Zachary F 4
4 · TIER TECHNOLOGIES INC · Filed Apr 18, 2011
Insider Transaction Report
Form 4
Sadek Zachary F
Director
Transactions
- Award
Cash-Settled Restricted Stock Units
2011-04-14+9,000→ 9,000 totalFrom: 2012-04-14Exp: 2012-04-14→ Common Stock (9,000 underlying)
Footnotes (3)
- [F1]Each restricted stock unit is the economic equivalent of one share of Tier Technologies, Inc. common stock.
- [F2]One year cliff vesting.
- [F3]All proceeds from the exercise of the cash-settled restricted stock units are payable to investment funds affiliated with Giant Investments LLC pursuant to a contractual obligation of Mr. Sadek to assign any fees received for service as a director of Tier Technologies, Inc.