Hoffman G Michael 4
4 · SEALY CORP · Filed Jun 14, 2012
Insider Transaction Report
Form 4
Hoffman G Michael
Executive VP, Operations
Transactions
- Tax Payment
Common Stock
2012-06-12$1.69/sh−123,179$208,173→ 726,855 total - Exercise/Conversion
Restricted Stock Units 6/12/2009
2012-06-12−379,596→ 410,571 totalExp: 2013-06-12→ Common stock (379,596 underlying) - Exercise/Conversion
Common Stock
2012-06-12+379,596→ 850,044 total
Footnotes (2)
- [F1]On June 12, 2012, 379,596 restricted stock units previously granted to the reporting person vested. That vesting was settled with the reporting person receiving 256,417 shares of Sealy Corporation common stock and surrendering the other 123,179 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