Hoffman G Michael 4
4 · SEALY CORP · Filed Jun 14, 2011
Insider Transaction Report
Form 4
Hoffman G Michael
Executive VP, Operations
Transactions
- Tax Payment
Common Stock
2011-06-12$2.30/sh−114,287$262,860→ 463,439 total - Exercise/Conversion
Common Stock
2011-06-12+350,958→ 377,726 total - Exercise/Conversion
Restricted Stock Units 6/12/2009
2011-06-12−350,958→ 790,167 totalExp: 2013-06-12→ Common stock (350,958 underlying)
Footnotes (2)
- [F1]On June 12, 2011, 350,958 restricted stock units previously granted to the reporting person vested. That vesting was settled with the reporting person receiving 236,671 shares of Sealy Corporation common stock and surrendering the other 114,287 shares of Sealy Corporation common stock to Sealy Corporation for the payment of tax liabilities in connection with the vesting.
- [F2]The initial grant was for 1,200,000 restricted stock units with an annual growth rate of 8% until vested. The grant vests on an annual basis over 4 years. As a result of the annual 8% growth rate the grant, if fully vested, will result in 1,465,605 shares of Sealy Corporation common stock