Gener8 Maritime, Inc. 4
4 · Gener8 Maritime, Inc. · Filed Jun 24, 2015
Insider Transaction Report
Form 4
TAVLARIOS JOHN P
DirectorPresident
Transactions
- Disposition to Issuer
Stock Options
2015-06-24−229,108→ 0 totalExercise: $38.26Exp: 2022-05-17→ Common Stock (229,108 underlying) - Award
Restricted Stock Units
2015-06-24+133,093→ 133,093 total→ Common Stock (133,093 underlying)
Footnotes (4)
- [F1]One-fifth of the Stock Options became exercisable on each of May 17, 2013 and May 17, 2014. The remainder of the Stock Options became exercisable on May 7, 2015.
- [F2]The Stock Options were surrendered for cancellation in connection with the grant of the Restricted Stock Units.
- [F3]Each restricted stock unit represents the right to receive a share of common stock, or in the sole discretion of the Company's Compensation Committee, the value of a share of common stock on the date that the restricted stock unit vests.
- [F4]The restricted stock units vest in five equal installments on June 24, 2015, December 1, 2015, December 1, 2016, December 1, 2017 and December 1, 2018 provided that Mr. Tavlarios is employed by the Company or one of its subsidiaries through the applicable vesting date. In the event that an IPO of the Company occurs prior to December 1, 2015, the installment scheduled to vest on December 1, 2015 shall vest upon the consummation of the IPO. Delivery of shares underlying restricted stock units vested on or prior to December 1, 2015 shall take place no earlier than December 3, 2015.