Jackson Mack C III 4
4 · SMURFIT STONE CONTAINER CORP · Filed Feb 27, 2009
Insider Transaction Report
Form 4
Jackson Mack C III
SrVP & GM Containerboard Mills
Transactions
- Other
Restricted Stock Units
2009-02-27−13,278→ 59,906 total
Footnotes (4)
- [F1]Restricted Stock Units convert to shares of Common Stock after three years from award date.
- [F2]Restricted Stock Units granted under the Company's 2004 Long Term Incentive Plan. One-third of the RSUs vest on each of the first, second and third anniversaries of the grant date, but, except in the event of retirement, disability or severance, none of them will be converted to shares until the third anniversary of the grant date.
- [F3]The reporting person renounced his/her right to receive shares of the Company's common stock upon vesting of Restricted Stock Units due to the low price of the shares and the fact that broker commissions and related fees exceeded the value of the shares.
- [F4]The RSUs renounced this date consisted of RSUs awarded to the reporting person representing the portion of his/her Management Incentive Plan award for 2005, plus Company premium RSUs equal to 20% of the amount of the reporting person's RSUs, and RSUs awarded in 2006 under the Company's Long Term Incentive Plan, all of which were to convert to shares of the Company's Common Stock after three years.