Hoffman G Michael 4
4 · SEALY CORP · Filed Mar 1, 2012
Insider Transaction Report
Form 4
Hoffman G Michael
Executive VP, Operations
Transactions
- Tax Payment
Common Stock
2012-02-28$1.54/sh−4,055$6,245→ 290,448 total - Exercise/Conversion
Common Stock
2012-02-28+11,064→ 274,503 total - Exercise/Conversion
Restricted Stock Units 2/26/2009
2012-02-28−11,064→ 0 totalExp: 2012-02-28→ Common stock (11,064 underlying)
Footnotes (2)
- [F1]On February 28, 2012, 11,064 restricted stock units previously granted to the reporting person vested. That vesting was settled with the reporting person receiving 7,009 shares of Sealy Corporation common stock and surrendering the other 4,055 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 33,192 restricted stock units that vested on February 28, 2012. Based on the Company's earnings performance during the prior three years only one-third of that grant vested. As a result, on February 28, 2012 11,064 of the restricted stock units vested and the balance of the restricted stock units expired.