Churches Brady 4
4 · TUESDAY MORNING CORP/DE · Filed Nov 9, 2012
Insider Transaction Report
Form 4
Churches Brady
DirectorPresident & CEO
Transactions
- Award
Non-Qualified Stock Option (right to buy)
2012-11-07+200,000→ 200,000 totalExercise: $6.08Exp: 2022-11-07→ Common Stock (200,000 underlying) - Award
Performance Shares
2012-11-07+12,337→ 12,337 totalExp: 2022-11-07→ Common Stock (12,337 underlying)
Footnotes (3)
- [F1]The stock options generally vest as follows: (i) options to purchase the first one-third tranche of shares of common stock will vest if the weighted-average closing price per share of the common stock for 90 consecutive trading days (the "Trailing Trading Price") equals or exceeds $7.50 per share, (ii) options to purchase the second one-third tranches of shares of common stock will vest if the Trailing Trading Price equals or exceeds $10.00 per share, and (iii) options to purchase the third one-third tranches of shares of common stock will vest if the Trailing Trading Price equals or exceeds $12.50 per share. Any stock options that have not vested before the third anniversary of the grant date will generally terminate at such time; provided, that if the second tranche of stock options vest because the Trailing Trading Price for such options is met, then the remaining stock options will generally terminate if not vested by the fourth anniversary of the grant date.
- [F2]The performance shares generally vest as follows: (i) the first one-third tranche of shares of common stock will vest if the Trailing Trading Price equals or exceeds $7.50 per share, (ii) the second one-third tranches of shares of common stock will vest if the Trailing Trading Price equals or exceeds $10.00 per share, and (iii) the third one-third tranches of shares of common stock will vest if the Trailing Trading Price equals or exceeds $12.50 per share. Any shares that have not vested before the third anniversary of the grant date will generally terminate at such time; provided, that if the second tranche of shares vest because the Trailing Trading Price for such shares is met, then the remaining shares will generally terminate if not vested by the fourth anniversary of the grant date.
- [F3]Granted under the Tuesday Morning Corporation 2008 Long-Term Equity Incentive Plan pursuant to the terms of Mr. Churches' Employment Agreement dated September 1, 2012.